This session provided guidance on the shifting environment for competition reviews in the United States, Europe, and other jurisdictions. The participants commented on specific deal terms that anticipate protectionist views and antitrust challenges associated with sensitive data and limited R&D risk and the merits of negotiating prospective remedies or remaining silent.

The regulatory impact on timing to close was considered in this session, which looked at specific deal terms, coordinating issues, and methods for balancing U.S. securities laws with changing and conflicting requirements in other jurisdictions.