These warnings, termed “close-at-risk” letters, were sent between June 2021 and July 2022, uncovered through a Bloomberg investigation. The FTC, led by Chair Lina Khan, initiated this practice due to a surge in merger filings, aiming to regulate the overwhelming number of deals amid resource constraints.
Critics, including GOP commissioners, lawmakers, and business groups, have condemned the practice, arguing it could stifle legitimate merger activity. However, the FTC hasn’t dismantled any mergers despite issuing these warnings, per Bloomberg.
Related: Pfizer, Johnson & Johnson Settle Remicade Antitrust Suit
Under US merger law, deals exceeding $119.5 million must notify the government and wait 30 days for antitrust review. The 204 warning letters account for about 2.6% of the 7,700 merger filings during this period, significantly more than those leading to in-depth antitrust probes.
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