A ban on mergers during the coronavirus pandemic should be added to the next relief package, says House antitrust chairman
The chairman of the House Antitrust Subcommittee, Rep. David Cicilline, plans to introduce a provision for the next coronavirus relief package to ban mergers until the pandemic is over, heCicilline, a Democrat from Rhode Island, is worried that the pandemic could start a "buying spree" in which financially-stable companies could take advantage of the economic downturn and lead to a decline in competition.
The ban on mergers would exclude companies already in bankruptcy or otherwise set to fail imminently, the report said, and would end as soon as the pandemic declaration is lifted. It is unclear if the provision would have enough support from Republicans, including the president and the Republican-led Senate, to become law.
The Federal Trade Commission and the Justice Department's antitrust division, which hold regulatory power over mergers, have not publicly called for such a ban.that they "will aim to respond expeditiously to all COVID-19-related requests" with "guidance about how to ensure their efforts comply with the federal antitrust laws," as some companies enter into unique partnerships to address the pandemic.
The agencies did not address mergers specifically, but said that "many types of collaborative activities designed to improve the health and safety response to the pandemic would be consistent with the antitrust laws," such as sharing of technical knowledge or research and development.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
White House, congressional leaders reach deal to replenish halted coronavirus small business loan programThe Paycheck Protection Program, which provides loans to small businesses, was halted Thursday after it allocated all of its initial $349 billion.
Leer más »
House set to pass $484 billion coronavirus bill to boost small business, hospitals and testingThe coronavirus bill the House is considering would replenish a small business loan program, send aid to hospitals and fund a testing expansion.
Leer más »
Congressional Leaders, White House Strike Deal on Small-Business AidCongressional leaders struck an agreement with the White House to deliver more than $480 billion in aid to small businesses and hospitals, the federal government’s latest effort to blunt the economic and health-care crisis caused by the coronavirus pandemic.
Leer más »
The one thing a scientist wants you to do when cleaning your houseDyson research scientist, Gem McLuckie, explains how to effectively rid our homes of bacteria, dust and pollen when cleaning.
Leer más »
Quarantine Violators Sent to 'Haunted House' in Indonesia for Punishment'If there's an empty and haunted house in the village, put people in there and lock them up,' an official said.
Leer más »