Margaret A.Ward (Peggy)

Partner

San Francisco + 1.415.875.5876

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Peggy Ward has more than 20 years of experience practicing antitrust law, focusing on mergers and acquisitions, counseling, compliance programs, and nonmerger government investigations. She has represented clients before the U.S. Department of Justice, Federal Trade Commission, and state attorneys general and has experience in a wide range of industries, including health care, IT hardware, software, financial payments, life sciences, energy, and telecommunications.

In recent years, the clients Peggy has worked with include Adventist Health, California Hospital Association, City of Hope, Dignity Health, Lam Research, Loma Linda University Health, Synopsys, and Sutter Health.

From 2001 through 2003, Peggy worked on antitrust matters at the Antitrust Division of the U.S. Department of Justice. While serving as Senior Counsel to Assistant Attorneys General Charles A. James and R. Hewitt Pate, she worked on a number of merger and nonmerger antitrust investigations and advised the AAGs on policy initiatives, appellate and international matters, and competition advocacy efforts.

Peggy serves as a Nongovernmental Advisor to the International Competition Network. She also is currently a member of the Subscription Model Task Force of the American Bar Association's Section of Antitrust Law. She has held a number of other leadership positions within the ABA Antitrust Section, including most recently the co-chair of the Compliance and Ethics Committee. She also has co-chaired the Antitrust Spring Meeting and served in the leadership of the Section's Mergers and Acquisitions, Corporate Counseling, Programs and Seminars, Membership and Equal Opportunity, and Fuel and Energy Committees and as senior editor of the Antitrust Law Journal.

Experience

  • Dignity Health and Select Medical combine Concentra and U.S. HealthWorks for $753 millionJones Day advised Dignity Health in its $753 million sale of its U.S. HealthWorks, Inc. subsidiary to Concentra Group Holdings, LLC.
  • Aetna attempts acquisition of HumanaJones Day represented Aetna Inc. as antitrust counsel in its attempted $37 billion acquisition of fellow health insurer Humana Inc.
  • Loma Linda University Medical Center forms clinically integrated networkJones Day advised Loma Linda University Medical Center, an academic medical and research center that operates some of the largest clinical programs in the United States, in connection with the development of University Preferred Health Partners (UPHP), a clinically integrated network serving the Inland Empire region of Southern California. 
  • Ambry Genetics sold to joint venture formed by Konica Minolta and Innovation Network for up to $1.0 billionJones Day advised Ambry Genetics Corporation, a leading genetic testing corporation, in its sale to a newly formed joint venture between Konica Minolta, Inc. and Innovation Network Corporation of Japan for up to $1.0 billion (including earnouts).
  • DIRECTV merger with AT&T receives antitrust clearanceJones Day represented California based satellite TV provider DIRECTV on the antitrust aspects of its $67 billion acquisition by AT&T, a deal that combines AT&T's terrestrial internet and video business with DIRECTV's satellite video business.
  • Synopsys acquires AtrentaJones Day acted as antitrust counsel for Synopsys, Inc. in its acquisition of Atrenta Inc., a privately held provider of SoC realization solutions for the semiconductor and consumer electronics industries.
  • Eastman Chemical acquires Commonwealth Laminating & CoatingJones Day advised Eastman Chemical Company in its acquisition of Commonwealth Laminating & Coating, Inc., an independent manufacturer and global marketer and distributor of window films and specialty films for automotive, architectural, and protective applications.
  • Aetna acquires managed health care company Coventry Health Care for $8.7 billionJones Day acted as antitrust counsel to health insurer Aetna Inc. in its acquisition of Maryland based managed health care organization Coventry Health Care, Inc., for approximately $8.7 billion.
  • SAP acquires leading cloud-based business commerce network Ariba for $4.3 billionJones Day advised SAP AG in its $4.3 billion acquisition of Ariba, Inc.
  • Hitachi Data Systems acquires PentahoJones Day advised Hitachi Data Systems Corporation in its acquisition of Pentaho Corporation, a leading big data integration and business analytics company with an open source-based platform for diverse big data deployments.
  • BioMarin acquires Prosensa Holding N.V. for $680 millionJones Day advised BioMarin Pharmaceutical Inc. in its acquisition of Prosensa Holding N.V., a public, biotechnology company, focused on the discovery and development of RNA-modulating therapeutics for the treatment of rare genetic disorders.
  • Synopsys receives antitrust clearance for $523 million acquisition of Magma Design AutomationJones Day secured merger clearance from the U.S. Federal Trade Commission, which ended its investigation without issuing a second request, on behalf of Synopsys, Inc. in connection with its $523 million acquisition of Magma Design Automation Inc.
  • Capella Microsystems acquired by Vishay Intertechnology for 6.05 billion New Taiwan Dollars (US$205 million)Jones Day advised Capella Microsystems Inc., a fabless IC design company specializing in optoelectronic products, in its acquisition by Vishay Intertechnology, Inc., one of the world's largest manufacturers of discrete semiconductors and passive electronic components, for approximately 6.05 billion New Taiwan Dollars (US$205 million).
  • Riverside completes sale of Baby Jogger Holdings to Newell RubbermaidJones Day represented The Riverside Company in connection with its sale of Baby Jogger Holdings, Inc., a leading designer and marketer of branded infant and juvenile products focused on premium and activity strollers and related accessories, to Newell Rubbermaid, a worldwide marketer of consumer and commercial products with a portfolio of well-known brands.
  • Synaptics acquires LCD display driver manufacturer Renesas SP Drivers for JPY48.5 billion (US$475 million)Jones Day advised Synaptics Inc., a leading developer of human interface solutions, in connection with its JPY48.5 billion (US$475 million) definitive agreement to acquire Renesas SP Drivers, Inc., a Japanese joint venture between Renesas Electronics Corporation, Sharp Corporation, and Powerchip Technology Corp., which is the market leader in small and medium-sized LCD driver ICs and provides high performance display drivers to the world's leading consumer device OEMs.
  • ACI Worldwide acquires S1 for $520 millionJones Day advised ACI Worldwide, Inc. ("ACI") in connection with its agreement to acquire S1 Corporation ("S1") for approximately $520 million.
  • Aetna secures antitrust approval of Prodigy Health Group transactionJones Day successfully represented Aetna Inc. in connection with its acquisition of Prodigy Health Group, the nation's largest independent third party administrator of self-funded health care plans, from Prodigy Health Holdings, LLC.
  • SunPower and Total partner to create new global leader in solar industry with $1.4 billion tender offerJones Day advised SunPower Corporation in the completion of the $1.4 billion tender offer by Total for up to 60% of SunPower's outstanding Class A Common Shares and 60% of SunPower's outstanding Class B Common Shares at a price of $23.25/share for each class.
  • Okami Foods acquired by Fuji Food ProductsJones Day advised Okami Foods, Inc., a manufacturer of refrigerated Asian cuisine, in its acquisition by Fuji Food Products, Inc.
  • SunPower and AU Optronics form $1.2 billion joint venture to manufacture and sell solar-cell outputJones Day advised SunPower Corporation in its agreement forming a $1.2 billion joint venture with AU Optronics Corp. ("AUO") a leading global manufacturer of thin-film transistor liquid-crystal displays (TFT-LCD) based in Taiwan, to manufacture and sell the output of solar cells.
  • SAP acquires Sybase for $5.8 billionJones Day advised SAP in its $5.8 billion agreement to acquire Sybase, Inc., an enterprise software and services company.
  • A. Schulman, Inc. executes merger agreement with ICO for $191.4 millionJones Day advised A. Schulman, Inc. in its $191.4 million merger with ICO, Inc., a global producer of custom polymer powders and plastic film concentrates.
  • Cleveland Clinic acquires Medina General HospitalJones Day represented The Cleveland Clinic Foundation in a transaction that resulted in Medina General Hospital becoming affiliated with the health system through a change in corporate membership.
  • Diebold sells its U.S. election systems business to Election Systems & SoftwareJones Day advised Diebold, Inc in the sale of its U.S. election systems business, primarily consisting of its Allen, Texas-based subsidiary, Premier Election Solutions, Inc., to Election Systems & Software, Inc. (ES&S), a leading company in the election systems industry.
  • Clarian Health Partners obtains antitrust clearance for Bloomington Hospital mergerOn behalf of Clarian Health Partners, Jones Day obtained antitrust clearance for its merger with Bloomington Hospital.
    • View All

    March 2024 Alert

    Federal Agencies Launch Joint Inquiry Into Private Investment in Health Care

    February 2021 Alert

    DOJ Continues Labor Market Scrutiny with Another Corporate Indictment

    January 2021 Commentary

    New Law Eliminates 75-Year-Old Antitrust Exemption for "Business of Health Insurance"

    December 2020 Alert

    DOJ Brings First Criminal Charges for Wage Fixing

    January 2020 Alert

    Antitrust Alert: DOJ Challenges "Anticompetitive" Trade Association Rules for College Admission

    October 2016 Alert

    Antitrust Alert: U.S. Antitrust Enforcers Release Antitrust Guidance for HR Professionals and Announce Intent to Proceed Criminally Against Naked Wage-Fixing and No-Poaching Agreements

    June 2016 Alert

    Antitrust Alert: Authorities Increasing Scrutiny of Employee Noncompete Agreements

    January 2015 Alert

    Antitrust Alert: U.S. FTC Challenges Professional Associations' Codes of Ethics and Bylaws

    January 2014 Alert

    Antitrust Alert: DOJ Wins Bazaarvoice Merger Trial – Lessons for Future Deals

    December 2013 Alert

    Antitrust Alert: New FTC Settlements of Professional Associations’ Restrictions on Fees and Solicitation Highlight Need for Continuing Oversight of Association Participation
    View All

    Additional Publications

    • July/August 2011
      Mergers of Competitors: Negotiating Remedies to Resolve U.S. Antitrust Concerns, The M&A Lawyer
    • April 2010
      Antitrust Issues in Clean Technology, Antitrust Source
    • August 2009
      Joint Comments of the American Bar Association's Section of Antitrust Law and Section of International Law on Competition Commission and Office of Fair Trading Draft Merger Assessment Guidelines, co-author
    • June 2009
      Joint Comments of the American Bar Association Section of Antitrust Law and Section of International Law on the Competition Bureau (Canada) Draft Enforcement Guidelines on the Revised Merger Review Process, co-author
    • January 2009
      Joint Comments of the American Bar Association Section of Antitrust Law and Section of International Law on Paraguay's "In Defense Of Competition Bill", co-author
    • December 2008
      Joint Comments of the American Bar Association Section of Antitrust Law and Section of International Law on CADE's Resolution N. 49, Dated July 23, 2008, co-author
    • December 2008
      Joint Comments of the American Bar Association Section of Antitrust Law and Section of International Law Response to Questionnaire Issued by the European Commission In Connection with its Report on Regulation 139/2004, co-author
    • November 2008
      Comments of the ABA Section of Antitrust Law In Response to the Federal Trade Commission's Request For Public Comment Regarding Parts 3 and 4 Rules of Practice Rulemaking, contributor
    • October 2008
      Joint Comments of the American Bar Association Section of Antitrust Law and Section of International Law on the Competition Bureau (Canada) Draft Bulletin on Efficiencies in Merger Review, co-author
    • October 2008
      Joint Comments of The American Bar Association Section of Antitrust Law and Section of International Law on the Australian Commonwealth Government Treasury's Discussion Paper on Creeping Acquisitions, co-author
    • 2003
      Editor's Note: Symposium on Competitive Price Discrimination, 70 Antitrust Law J. 593
    • Summer 2002
      U.S. v. Computer Associates: Pre-Merger Coordination Issues Under Section 7A and the Sherman Act, coauthor, American Bar Association Section of Antitrust Law Clayton Act Committee Newsletter
    • 2000
      Two Part Harmony: New Rules for Vertical Agreements Under European Union Competition Policy, coauthor, 14 Antitrust 52

    Speaking Engagements

    • February 11, 2021
      ABA Antitrust in Healthcare Conference - Difficult Deals and Tough Situations: Lessons Learned from Anthem-Cigna
    • January 26-28, 2021
      Jones Day University Panel - Antitrust Developments: What You Need To Know
    • April 13, 2020
      AHLA Podcast: Antitrust Collaborations in Light of COVID-19
    • March 12, 2020
      Making a Comment: Perspectives on the ABA Comment to the Agencies' Draft Vertical Merger Guidelines
    • January 23, 2020
      Antitrust in the New Decade: What You Need to Know Jones Day University
    • March 27, 2019
      Views From the Bench: Mergers, ABA Section of Antitrust Law Spring Meeting
    • October 22-24, 2018
      Antitrust Judicial Law and Economics Institute for Judges
    • October 4, 2018
      Antitrust Issues in Health Care Transactions and Arrangements, 15th Annual Healthcare Law Compliance Symposium, Los Angeles County Bar Association, Healthcare Law Section
    • April 11, 2018
      Narrow-Minded: The Current State of Market Definition ABA Section of Antitrust Law Spring Meeting
    • January 29, 2018
      Monthly Antitrust Update Program for In-House Counsel, ABA Section of Antirust Law
    • December 12-13, 2017
      International Competition Network Merger Workshop
    • April 1, 2017
      Enforcers Roundtable, ABA Section of Antitrust Law Spring Meeting
    • March 30, 2017
      Hot Topics, ABA Section of Antitrust Law Spring Meeting
    • June 16, 2016
      Chicago Forum on International Antitrust Issues
    • April 7, 2016
      ABA Section of Antitrust Law Spring Meeting
    • December 1, 2014
      International Competition Network, Merger Workshop
    • June 2013
      Recent Developments in Antitrust Law and Unfair Competition in California, panelist, Antitrust and Unfair Competition Law Section of the California State Bar
    • October 4, 2012
      Jones Day Hosts California Client Development Event for Women
    • September 27, 2012
      Effect of Patent Assertion Entities on Competition and Innovation, ABA Section of Antitrust Law
    • April 2012
      Briefed a merger working group on economic analysis in merger reviews, International Competition Network conference
    • May 6, 2011
      Clean Technology: Does Going Green Create Antitrust and Consumer Protection Issues?, ABA Section of Antitrust Law, Antitrust and Consumer Protection Issues in the Energy Industry: 100 Years Since Standard Oil
    • January 26, 2011
      Antitrust and IP Licensing, Jones Day MCLE University (Presentation slides)
    • November 3-4, 2010
      2010 International Competition Network Merger Workshop
    • April 21-23, 2010
      58th Annual ABA Antitrust Law Spring Meeting
    • April 6, 2010
      Women in IP: Tips for Successful Negotiation
    • April 6, 2010
      Jones Day's Silicon Valley hosts Northern California Women in IP: Tips for Successful Negotiation
    • March 2, 2010
      What In-House Counsel and Business Executives Need to Know About Managing Global Antitrust Issues, Jones Day client program "Antitrust in the Global Economy"
    • October 23, 2009
      Panel Discussion with Jonathan Baker, Chief Economist, Federal Communications Commission, American Bar Association Section of Antitrust Law, Economics Committee and Communications and Digital Technology Industries Committee
    • October 20, 2009
      Ethics and Conflicts at the U.S. Antitrust Agencies, American Bar Association Section of Antitrust Law, Center for Professional Responsibility and the ABA Center for Continuing Legal Education
    • June 5, 2008
      Assessing Recent FTC Merger Litigation: One Win, One Loss, and One Tie, Federalist Society, Corporations, Securities, and Antitrust Practice Group
    • May 28, 2008
      Drafting Antitrust Complaints and Motions to Dismiss in the Post-Twombly Era, American Bar Association Section of Antitrust Law, Young Lawyers Division Antitrust Committee
    • April 18, 2008
      Twombly and Leegin in the Trenches: What Has Changed in Antitrust Law 2008, American Bar Association Young Lawyers Division Spring Conference
    • April 2006
      In-house Counsel Antitrust Update, American Bar Association Section of Antitrust Law, Corporate Counseling Committee
    • March 2006
      Price-Gouging: Do We Need a Federal Law? American Bar Association Section of Antitrust Law, Annual Spring Meeting
    • August 2004
      The Supreme Court Weighs In, American Bar Association Section of Antitrust Law, Post-Annual Leadership Meeting
    • March 2002
      Antitrust Fundamentals, American Bar Association Section of Antitrust Law, Annual Spring Meeting
    • February 2002
      Federal Enforcement: Department of Justice, Antitrust Division, 41st Annual Advanced Antitrust Seminar: Distribution & Marketing, Practicing Law Institute
    • November 2001
      Antitrust Division Enforcement Update, Ohio State Bar Association
    • November 2001
      Developments at the Antitrust Division, The Houston Bar Association, Antitrust and Trade Regulation Section

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