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Trump Administration Clears $63 Billion in Mergers, Marking Sharp Shift from Biden-Era Antitrust Policy

By  |  July 13, 2025

Federal antitrust regulators under President Donald Trump have approved a series of major corporate mergers totaling $63 billion in June, signaling a clear departure from the stricter approach taken during the Biden administration.

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    According to Reuters, the Department of Justice (DOJ) and the Federal Trade Commission (FTC) cleared three large transactions last month, including Ferrero’s $3.1 billion deal to acquire cereal maker WK Kellogg. The approvals reflect a more settlement-focused and expedited review process under FTC Chairman Andrew Ferguson and DOJ antitrust chief Gail Slater.

    Late last month, the FTC also approved Mars’ $36 billion acquisition of Pringles maker Kellanova and Omnicom’s $13.5 billion takeover of rival Interpublic. Per Reuters, the Omnicom deal included restrictions on political ad targeting. Both transactions are still under international review.

    “The Trump administration’s commitment to getting out of the way for non-problematic deals suggests a smoother, quicker process for Ferrero-WK Kellogg, assuming that there are minimal competitive concerns,” said Andre Barlow, an antitrust attorney in Washington.

    Read more: Trump Administration Sues California Over Egg Laws, Citing Nationwide Price Hikes

    U.S. law requires companies to wait 30 days before closing mergers, but the DOJ and FTC can shorten this period if they determine further review is unnecessary. More than 100 deals have received shortened review periods since Trump began his second term, Reuters reported. This marks a return to a practice that was largely halted under President Biden, who prioritized extended investigations and rarely settled with merging companies.

    In contrast, Biden’s FTC, led by Lina Khan, often delayed deals and emphasized deterring corporate consolidation. According to Dechert, companies in 2024 typically allowed up to 18.5 months to close transactions due to extended regulatory scrutiny.

    DOJ merger enforcement deputy Bill Rinner, who joined from Apollo Global Management, emphasized the shift in a June 4 speech. “Deals that are pro-competitive or competitively neutral should be able to proceed without a lingering regulatory review tax,” he said, according to Reuters.

    The DOJ also settled a case in late June allowing Hewlett Packard Enterprise’s $14 billion acquisition of Juniper Networks to proceed. The agency had originally sued to block the deal in January but began negotiations shortly after Slater took office in March.

    Source: Reuters