Keystone’s Merger Advisory team offers industry-leading merger analysis and advisory services in the U.S., the UK and Europe.
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Keystone advised KKR in the EC's review of their acquisition of FiberCop's and TIM’s fixed-lines network businesses in Italy. This acquisition was unconditionally cleared.
Keystone jointly advised Microsoft in their acquisition of Activision Blizzard before the UK’s CMA and the EC. This deal was conditionally approved by both authorities.
Keystone worked on behalf of Amgen in their acquisition of Horizon Therapeutics, a smaller biotech firm with two differentiated drugs. A Keystone expert conducted analyses on the market access conditions that would prevent Amgen from leveraging Horizon's drugs in an anticompetitive manner. The merger was conditionally cleared by the FTC.
Keystone represented Roark Capital in its acquisition of Subway, the world’s largest quick-service chain. We conducted detailed economic analyses to identify relevant local geographic markets and the acquisition's competitive effects. We supported Roark Capital and its counsel in responding to the FTC’s Second Request. The deal was unconditionally approved by the FTC.
