In the latest instalment of the Cleary Gottlieb Antitrust Review podcast, host Nick Levy is joined by Bruce Hoffman, Director of the Federal Trade Commission’s Bureau of Competition between August 2017 and December 2019, and Dave Gelfand, who served from 2013 through 2016 as Deputy Assistant Attorney General in the Antitrust Division of the U.S. Department of Justice.  Their conversation focuses on U.S. merger control, including Microsoft/Activision, the Baker Hughes framework, recent enforcement practice of the Department of Justice and Federal Trade Commission, and changes to the Merger Guidelines and HSR form.