As the Department of Justice goes after the AT&T-Time Warner merger, it has the odds in its favor, antitrust attorney David Goodfriend told CNBC on Monday.
The DOJ sued on Monday to block AT&T‘s $85 billion deal to buy Time Warner, calling it an “illegal” combination that harms consumers and stifles innovation.
Goodfriend said 29 of the last 30 times the Justice Department has brought this kind of injunctive claim, it has won the case.
“If you go on those odds, they wouldn’t be bringing this case if they didn’t feel pretty confident that they could prevail,” he said in an interview with “Closing Bell.”
In a statement on Monday, AT&T’s general counsel, David McAtee, called the lawsuit a “radical and inexplicable departure from decades of antitrust precedent.”
“Vertical mergers like this one are routinely approved because they benefit consumers without removing any competitor from the market. We see no legitimate reason for our merger to be treated differently,” he said.