Three things to know:
1. Under the “Prohibiting Anticompetitive Mergers Act,” the FTC and the Justice Department could automatically block certain mergers, including those worth more than $5 billion, without the need to go to court.
2. The bill would allow the FTC and the Justice Department to retroactively reverse mergers if the deals lead to the combined company having more than 50 percent market share, according to Politico.
3. The bill was introduced as the FTC and the Justice Department are seeking to rewrite merger guidelines for businesses. Comments on how to “modernize the merger guidelines to better detect and prevent anticompetitive deals” can be submitted to the agencies through April 21.
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