This has been a busy year for the US antitrust agencies, with a number of litigated cases bringing their heightened enforcement policies into sharp relief. These developments in the Biden Administration’s second year give parties and practitioners much to consider for their current and future deals. The DOJ and FTC had filed nine complaints through October 2022 (excluding settlements filed on the same day). Yet most of their litigated actions have proven to be out of line with courts that continue to apply the established precedents of merger control law. This article synthesizes some takeaways from the agencies’ recent enforcement actions.