New FTC And DOJ Guidelines Signal Greater Scrutiny Of Proposed Mergers

deadline.com:

The Joe Biden-era Federal Trade Commission and the Justice Department have a mixed record in the courts when it comes to fighting mergers, but proposed new guidelines signal a continued effort to slow or block corporate consolidation.

FTC Chairwoman Lina Khan and DOJ antitrust chief Jonathan Kanter are expected to be at the White House on Wednesday as President Joe Biden unveiled the proposals as part of a series of steps to boost competition.

The draft guidelines are not new laws, but are policies for how the FTC and the DOJ evaluate proposed mergers. A senior administration official said that they were updating “our framework to match market realities,” noting that “we’ve seen all too often blind spots that led to missed opportunities” and led to greater consolidation.

Included in the 13 proposed guidelines unveiled on Wednesday was one aimed at tech platforms: “When a merger involved a multi-sided platform, the agencies examine competition between platforms, on a platform, or to displace a platform.” Other proposals would be to evaluate mergers on whether they would “entrench or extend a dominant position,” and whether they would “further a trend toward consolidation.” Another guideline would be to examine the competitive impact of multiple acquisitions, while another is aimed at the impact of mergers on the workforce.