The two major US competition agencies are embarking on an overhaul of US merger guidelines, which could make it far harder to conclude large mergers and acquisitions as the Biden administration seeks to crack down on anti-competitive practices.
The Federal Trade Commission and Department of Justice said in a joint statement on Tuesday that they are seeking input from the public on the rule revamp, which is aimed at strengthening antitrust enforcement amid a surge in tie-ups. Merger filings more than doubled between 2020 and 2021, they added.
“We need to understand why so many industries have too few competitors, and to think carefully about how to ensure our merger enforcement tools are fit for purpose in the modern economy,” said Jonathan Kanter, the newly appointed head of the DoJ’s antitrust division.