Congressional bills would ban tech mergers over $5 billion
would make it illegal to pursue"prohibited mergers," including those worth more than $5 billion or which provide market shares beyond 25 percent for employers and 33 percent for sellers.
The bills would also give antitrust regulators more power to halt and review mergers. They would have authority to reject mergers outright, without requiring court orders. They would likewise bar mergers from companies with track records of antitrust violations or other instances of"corporate crime" in the past decade.
Crucially, PAMA would formalize procedures for reviewing past mergers and breaking up"harmful deals" that allegedly hurt competition. The Federal Trade Commission has signalled ato split up tech giants like Meta despite approving mergers years earlier. PAMA might make it easier to unwind those acquisitions and force brands like Instagram and WhatsApp to operate as separate businesses.
The act isn't strictly focused on tech, but Warren made clear that industry was a target. She cautioned the FTC onIf it becomes law, PAMA would ban the Amazon-MGM union ,