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Prohibiting Anticompetitive Mergers Act of 2022

Introduced: March 16, 2022 See on congress.gov

Everywhere this bill has been 4 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Nov 1, 2022

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Mar 17, 2022

Referred to the Subcommittee on Consumer Protection and Commerce.

Mar 16, 2022

Referred to the Committee on the Judiciary, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Mar 16, 2022

Introduced in House

Plain-English summary Congressional Research Service

Prohibiting Anticompetitive Mergers Act of 2022

This bill prohibits certain business mergers, modifies the procedures for reviewing mergers, and establishes procedures for reversing certain mergers.

Specifically, the bill prohibits mergers that (1) are valued at more than $5 billion in total assets, (2) result in the acquiring entity having a market share of greater than 33% (or a share of a labor market as an employer of greater than 25%), or (3) result in market concentration levels that exceed specified thresholds.

The bill also expands the authority of the Federal Trade Commission (FTC) and the Antitrust Division of the Department of Justice (DOJ) to review pending mergers, including whether a merger is likely to harm the competitive process and the effect of a merger on relevant labor markets.

Finally, the bill authorizes the FTC and the Antitrust Division of the DOJ to retroactively unwind mergers that are prohibited under the bill or that meet certain other anticompetitive criteria such as a merger that results in a greater than 50% share of a relevant market.

What's happening now November 1, 2022

Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Committees of jurisdiction 4