Prohibiting Anticompetitive Mergers Act of 2022

Hozzl · 2022-12-29T22:03:50Z

Explore the details of House Bill 7101 Prohibiting Anticompetitive Mergers Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Commerce. Stay informed on legislative developments.

12/29/2022, 10:03 PM

Summary of Bill HR 7101

Bill 117 HR 7101, also known as the Prohibiting Anticompetitive Mergers Act of 2022, aims to address concerns about the impact of mergers on competition in the marketplace. The bill seeks to prevent mergers that would substantially lessen competition or create a monopoly in a particular industry.

The legislation would give the Federal Trade Commission (FTC) and the Department of Justice (DOJ) more authority to review and block mergers that are deemed anticompetitive. It would also require companies to provide more information about their proposed mergers to ensure that regulators have all the necessary information to make informed decisions.

Additionally, the bill includes provisions to increase transparency in the merger review process and to strengthen enforcement mechanisms to ensure that companies comply with antitrust laws. This would help to level the playing field for smaller businesses and promote fair competition in the marketplace. Overall, the Prohibiting Anticompetitive Mergers Act of 2022 is aimed at promoting a more competitive and fair marketplace by preventing mergers that could harm consumers and stifle innovation. It represents an important step towards ensuring that competition remains vibrant and robust in the US economy.

Congressional Summary of HR 7101

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.

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Current Status of Bill HR 7101

Bill HR 7101 is currently in the status of Bill Introduced since March 16, 2022. Bill HR 7101 was introduced during Congress 117 and was introduced to the House on March 16, 2022. Bill HR 7101's most recent activity was Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law. as of November 1, 2022

Bipartisan Support of Bill HR 7101

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 7101

Primary Policy Focus

Commerce

Potential Impact Areas

- Administrative law and regulatory procedures

- Appropriations

- Civil actions and liability

- Competition and antitrust

- Consumer affairs

- Corporate finance and management

- Department of Justice

- District of Columbia

- Executive agency funding and structure

- Federal Trade Commission (FTC)

- Federal appellate courts

- Federal district courts

- Judicial review and appeals

- Minority and disadvantaged businesses

- Poverty and welfare assistance

- Right of privacy

- State and local government operations

- Supreme Court

Alternate Title(s) of Bill HR 7101

Prohibiting Anticompetitive Mergers Act of 2022

To prohibit certain anticompetitive mergers, to amend the Clayton Act to permit the Federal Trade Commission and the Department of Justice to reject proposed acquisitions, to implement procedures for retrospective reviews and breaking up anticompetitive consummated acquisitions, and for other purposes.