FTC Chair Lina Khan told House lawmakers at a hearing July 28 that the antitrust agency is working to review the highest number of merger filings in 20 years.
“Although the FTC is working to review many of these deals, the sheer volume of transactions is significantly straining commission resources,” Ms. Khan said, according to Bloomberg.
Ms. Khan said she is concerned about the merger boom that is rapidly consolidating industries across the U.S.
“I am deeply concerned that the current merger boom will further exacerbate deep asymmetries of power across our economy, further enabling abuses,” she said, according to Bloomberg.
In the first seven months of this year, companies have announced $2.8 trillion in deals.
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