The Trump administration has decided to maintain the stringent guidelines for reviewing proposed corporate mergers, which were initially implemented under former President Joe Biden. This decision, detailed in a memo from the Department of Justice and a social media announcement by Federal Trade Commission Chairman Andrew Ferguson, signals a continued commitment to rigorous antitrust oversight. Despite widespread disapproval from businesses, the guidelines will remain in place for the foreseeable future.
Omeed Assefi, the acting assistant attorney general for the DOJ's antitrust division, confirmed the administration's decision, emphasizing the ongoing application of the 2023 Merger Guidelines.
"The Antitrust Division will continue to use the 2023 Merger Guidelines until further notice," – Omeed Assefi
Andrew Ferguson echoed this sentiment in his communication with FTC staff, asserting that the guidelines are integral to the agency's merger-review process.
"Today I informed staff that the 2023 FTC and DOJ's joint 2023 Merger Guidelines are in effect and will serve as the framework for our agency's merger-review analysis." – Andrew Ferguson
The guidelines, which build upon decades of case law and previous policies, have proven controversial among businesses due to their strict nature. They are designed to provide stability and continuity in enforcement strategies, as highlighted by Ferguson.
"These guidelines build on previous guidelines and many decades of case law," – Andrew Ferguson
"That stability is important for enforcement agencies and the business community." – Andrew Ferguson
The decision to uphold these guidelines reflects a broader strategy within the Trump administration to maintain continuity in antitrust enforcement. Businesses have expressed dissatisfaction with the stringent rules, but the administration appears steadfast in its commitment to preserving them as a framework for merger scrutiny.
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