Our Curious Amalgam

Over the last few decades, prior approval requirements were considered an extraordinary remedy in merger settlements, yet their use has fluctuated in agency enforcement across recent administrations. Where do the FTC and DOJ stand in their current practice? Bilal Sayyed, a Counsel at the Cadwalader law firm, and antitrust professor and former FTC policy leader, speaks with Anora Wang and Jeny Maier about the role of prior approval provisions in modern merger enforcement and what their recent rise—and retreat—signals about agency policy. Listen to this episode to learn how prior approval differs from traditional HSR review, when agencies have relied on such provisions, and what the evolving approach means for merging parties and future dealmaking.
With special guest:
Bilal Sayyed, Counsel, Cadwalader, Wickersham & Taft

Related Links:
2021 FTC Statement on Use of Prior Approval Provisions in Merger Orders
Bilal Sayyed, U.S. Antitrust Agency Merger Roundup & Commentary: FTC Reverses Routine Use of Prior Approval Requirements in Merger Settlements, Trump Antitrust Leadership Continues Departure from Antitrust Merger Policies of Previous Administration (July 15, 2025)
Hosted by:
Anora Wang, Arnold & Porter and Jeny Maier, Axinn, Veltrop & Harkrider

States have become increasingly active participants in merger enforcement, often conducting independent analyses and, at times, intervening alongside federal agencies in high-profile cases. What goes into states' analyses and decisions to intervene? Anthony Mariano, Chief of the Antitrust Division at the Massachusetts Office of the Attorney General, speaks with Lexi Michaud and Anora Wang about how states approach merger enforcement in parallel with the DOJ and FTC, the importance of independent state scrutiny, and, using the HPE–Juniper transaction to guide the discussion, how the Tunney Act promotes transparency and public interest oversight of federal settlements.
With special guest:
Anthony Mariano, Antitrust Division Chief, Massachusetts Office of the Attorney General

Hosted by:
Lexi Michaud, Fried Frank and Anora Wang, Arnold & Porter

State attorneys general are taking a more active role in merger control, with Colorado and Washington leading the way on new "mini-HSR" notification regimes.
What do these new state pre-merger filing laws require, and how should companies and practitioners navigate them alongside the federal Hart-Scott-Rodino Act?
Assistant Attorneys General Paula Pera Czollak and Bryn Williams join hosts Puja Patel and James Hunsberger to discuss the origins of the Uniform Antitrust Pre-Merger Notification Act, lessons from the first months of filings in Colorado and Washington, key interpretive questions practitioners are raising, and what the spread of state mini-HSRs could mean for national antitrust enforcement.
Listen to this episode to learn more about how emerging state-level merger notification regimes are reshaping the U.S. antitrust landscape and what companies need to know now.

With special guests:
Paula Pera Czollak, Assistant Attorney General, Antitrust Division, Washington State Office of the Attorney General and Bryn Williams, First Assistant Attorney General, Colorado Attorney General's Office, Leader of Antitrust Unit
Related Links:
https://www.atg.wa.gov/premerger-notifications 
Hosted by:
James Hunsberger, Axinn, Veltrop & Harkrider and Puja Patel, Cleary Gottlieb Steen & Hamilton

China's antitrust regime has evolved rapidly over the past decade. What role does economic analysis play in the actual enforcement? Anora Wang and Kathleen Hu speak with Dr. Vanessa Zhang of Compass Lexecon about the growing role of economic analysis in Chinese competition law, drawing on her experience advising China's antitrust authority and serving as a testifying expert in high-stakes cases. The conversation explores how economic evidence is developed, evaluated, and increasingly relied upon in China's evolving antitrust regime.
With special guest:
Vanessa Zhang, Executive Vice President, Compass Lexecon
Related Links:
The Complex Geopolitics of Digital Regulation: The Three Body Problem
Hosted by:
Anora Wang, Arnold & Porter and Kathleen Hu, Cornerstone Research

Businesses are increasingly considering the use of generative AI for work that historically relied on human creativity, including in the area of marketing and advertising. But can ads made with gen AI really be more effective than human-created ads? Professor Vilma Todri of Emory University Goizueta Business School joins Kathleen Hu and Jaclyn Phillips to discuss her recent research on the impact of visual generative AI on advertising effectiveness. Listen to this episode to learn more about how gen AI is being used in advertising and the implications for ad effectiveness and AI disclosure policies.
With special guest:
Vilma Todri, Associate Professor, Goizueta Business School of Emory University

Related Links:
The Impact of Visual Generative AI on Advertising Effectiveness
Hosted by:
Kathleen Hu, Cornerstone Research and Jaclyn Phillips, Proskauer Rose