On July 19, 2023, the FTC and DOJ released a draft update of their vertical and horizontal Merger Guidelines, which inform and direct the agencies in reviewing mergers and acquisitions and determining compliance with antitrust laws. This newest iteration of the Guidelines is the result of an initiative announced in January 2022 to evaluate potential updates and revisions to the guidelines, and the changes contained in the draft indicate that the agencies will increase scrutiny of both horizontal and vertical mergers going forward. The draft guidelines are open for public comment until September 18, 2023.