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U.S. antitrust regulator hints at tougher stance on Big Tech mergers

September 15, 2021 by David Barret Leave a Comment

September 15, 2021

By Diane Bartz

WASHINGTON (Reuters) -U.S. Federal Trade Commission staff presented data on Wednesday on small acquisitions by five big technology companies, and the agency scrapped guidelines on vertical mergers which combine a company with a supplier — both steps indicating plans to be tougher on deals.

Following a study begun during the Trump administration, the FTC staff found that Facebook, Alphabet’s Google, Amazon.com, Apple and Microsoft together had 616 acquisitions from 2010 to 2019 that were above $1 million but too small to be reported to antitrust agencies, among other findings.

Commissioner Rebecca Slaughter, a Democrat, said looking at deals individually was inadequate. “I think of serial acquisitions as a Pac-Man strategy. Each individual merger viewed independently may not seem to have significant impact. But the collective impact of hundreds of smaller acquisitions, can lead to a monopolistic behavior,” she said.

Commissioner Christine Wilson, a Republican, called for a similar study on health care mergers.

The FTC sued Facebook last year, alleging the social media company broke antitrust law. It has asked a judge to undo Facebook’s deals for photosharing app Instagram and messaging app WhatsApp although both were reviewed by the agency.

The FTC, which began holding open meetings after progressive Lina Khan became chair in June, also voted to withdraw Trump-era guidelines regarding vertical deals. Republicans Wilson and Noah Phillips opposed the decision.

Khan said that the agency would work with the Justice Department on new guidelines.

The FTC rarely seeks to stop vertical deals but recently asked a judge to stop biotech company Illumina’s deal to buy Grail. The companies seek to market a blood test to diagnose dozens of types of cancer.

The five commissioners voted along party lines to approve a policy statement on a rule requiring consumers be notified of any unauthorized use of health data. Commissioners also approved a process for accepting input on potential rules.

(Reporting by Diane Bartz; Editing by Aurora Ellis and David Gregorio)

Source Link U.S. antitrust regulator hints at tougher stance on Big Tech mergers

David Barret
David Barret

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