The Rotten Core of Antitrust Law: A 63 Year Old Rule Threatens Modern Deals The Paramount/Warner deal, a $110 billion transaction that has cleared regulatory hurdles worldwide, is being blocked by 12 state attorneys general citing a 1963 Supreme Court ruling.
This decision to wield United States v. Philadelphia National Bank as their central legal weapon raises more than a few eyebrows.
The arcane case was born in a bygone era when banking was a straightforward business with local markets and simple products.