Washington, D.C. — U.S. Chamber Executive Vice President and Chief Policy Officer Neil Bradley released the following statement today regarding the Federal Trade Commission and Department of Justice’s release of their new merger guidelines.
“Mergers and acquisitions play an important role in shaping a competitive U.S. business environment. Typically, less than 3% of transactions raise any competitive concerns. Yet, the current leadership at the FTC and DOJ have taken every step possible to create uncertainty and increase the burden around the entire merger process. The agencies peddle a false narrative on concentration in our economy, are quick to dismiss the benefits and efficiencies mergers create for consumers, and ignore the positive impact mergers have on innovation. The agencies have lost repeatedly in court and these guidelines are a back door attempt to change the law and ignore judicial precedent.
“These guidelines are designed to chill merger activity, which will deny smaller companies access to the capital and expertise they need to grow and place U.S. businesses at a disadvantage with their global competitors. Congress and the courts should continue to reject the agencies’ efforts to undo the consumer welfare standard and decades of antitrust precedent that has served the U.S. economy and consumers so well."