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US: High-ranking Republican wants merger review fast-tracked

 |  May 2, 2013

The US Senate’s highest-ranking Republican on its Antitrust Subcommittee has introduced his support for an unburdened premerger notification program. In a statement given last Wednesday, Senator Mike Lee of Utah championed the idea to fast track the merger review process without infringing on “the proper role of antitrust enforcement.” Despite his position, Senator Lee did not offer a potential plan as to how to accomplish the idea; he has not introduced any related legislation to the Senate this year. When asked to comment, Lee declined to be interviewed, according to reports. As the Federal Trade Commission and the Department of Justice have just 30 days to review merger cases, reports note that 3.5 of all potential mergers had those authorities requesting more information and thus earning more time for review – it’s a rate that varies between 2.5 and 4.5 percent in the last ten years.

Full Content: Thomson Reuters

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