US: FTC Chairwoman Ramirez testifies on antitrust enforcement

In testimony presented to a US House of Representatives Judiciary subcommittee the Federal Trade Commission described its ongoing efforts to promote competition that benefits consumers and businesses in key sectors of the economy.

Testifying on behalf of the FTC before the Subcommittee on Regulatory Reform, Commercial and Antitrust Law, Chairwoman Edith Ramirez said that “for more than 100 years now, the Commission has worked to ensure that American markets are open, vibrant, and unencumbered by unreasonable private or public restraints.”

The testimony indicates that in FY 2014 and through the first half of FY 2015, the agency challenged 28 mergers. In most, it negotiated a remedy allowing the merger to proceed. But in three instances, the parties abandoned the deal after the FTC raised concerns, and in three other cases, the Commission authorized staff to stop the merger. One of those is the pending preliminary injunction action to block the proposed merger between Sysco Corporation and US Foods. The FTC alleges that the proposed Sysco/US Foods merger will lead to higher prices and reduced service for national customers as well as customers in 32 local markets.

Additionally, the Commission continues to prioritize stopping anticompetitive mergers and conduct in healthcare markets, which threaten to undermine efforts to control costs, the testimony states.

Full content: Imperial Valley News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.