Rep. Fitzgerald Introduces Merger Exclusivity Discussion Draft

WASHINGTON, DC – Congressman Scott Fitzgerald (WI-05), Chairman of the House Judiciary Subcommittee on the Administrative State, Regulatory Reform, and Antitrust, has introduced a discussion draft of legislation to provide the Federal Trade Commission (FTC) and Department of Justice (DOJ) with exclusive authority to review or challenge certain mergers and acquisitions with an inherent interstate or international nexus.

“Over the last two years, we have witnessed multiple attempts by Democrat state attorneys general to challenge mergers and acquisitions that have already been approved by multiple federal and foreign regulators,” said Congressman Scott Fitzgerald. “These lawsuits—which are based entirely on political disagreements rather than legitimate antitrust concerns—provide uncertainty to businesses and harm consumers who would otherwise benefit from the efficiencies of a completed transaction. State AGs should not be able to delay mergers that extend beyond their territorial borders. My bill promotes federalism by asserting the federal government’s role as the sole authority in transactions effecting interstate commerce.”

Congressman Fitzgerald’s proposed National Merger Uniformity and Federal Exclusivity Act would grant the FTC and DOJ with exclusive authority to investigate, challenge, approve, consent to, or settle transactions that are reasonably likely to have substantial direct economic effects on interstate or international commerce, foreign markets, international supply chains, or trade between the United States and foreign countries. State AGs would still be allowed to participate in reviews or challenges brought by federal regulators, and the bill would not affect a state’s ability to challenge mergers that are inherently intrastate.

View the discussion draft here.

Any person who wishes to provide feedback on the draft legislation may contact Congressman Fitzgerald’s Washington D.C. office at (202) 225-5101 for further guidance.

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