"According to the Wall Street Journal (WSJ) and Bloomberg, antitrust enforcers at the Department of Justice (DOJ) wanted to investigate Compass's recently closed acquisition of Anywhere, but they were blocked by senior officials who wished to green-light the deal. Sources familiar with the situation told both WSJ and Bloomberg that Gail Slater, the head of the DOJ's antitrust division, wanted to undertake an extended review of the proposed merger for potential anticompetitive effects."
"But according to the news outlets, sources said Compass and its lawyers, including Mike Davis, a confidant of President Donald Trump, appealed to her superiors including Deputy Attorney General Todd Blanche, telling his office that any antitrust concerns could be addressed without a full-scale investigation."
"Antitrust experts told HousingWire the typical antitrust review timeline for a merger of this size can vary. If issues get resolved or nothing comes up during the deal's Hart-Scott-Rodino Antitrust Improvements (HSR) Act of 1976 waiting period, the deal can move along rather quickly, as Compass and Anywhere's did. However, if a second document request is brought by antitrust regulators, the process can be prolonged for potentially several months."
Antitrust enforcers at the Department of Justice sought to investigate Compass's acquisition of Anywhere but were blocked by senior DOJ officials who preferred to green-light the deal. Gail Slater, head of the DOJ antitrust division, sought an extended review for potential anticompetitive effects. Compass and its lawyers, including Mike Davis, appealed to senior DOJ officials, including Deputy Attorney General Todd Blanche, arguing antitrust concerns could be addressed without a full-scale investigation. A spokesperson for Blanche said the DOJ complied with review obligations and could pursue enforcement after closing if anticompetitive effects emerge. DOJ declined to comment and Blanche did not respond to requests. Antitrust experts noted review timelines vary: deals can proceed quickly if nothing arises during the HSR waiting period, but a second document request can prolong review for months.
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