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US: Houses passes bill to align FTC, DOJ merger standards

By  |  March 24, 2016

In a largely party-line vote, the House approved legislation Wednesday to eliminate differences in the merger and acquisition review processes by the Federal Trade Commission and the Department of Justice.

The House voted 235 to 171 in favor of the bill, known as the Standard Merger and Acquisition Reviews Through Equal Rules Act or the SMARTER Act.

Just five Democrats voted in favor of the legislation, while Rep. Walter Jones, R-NC, was the only Republican to vote against the bill.

The SMARTER Act requires the FTC and the Justice Department to abide by the same merger standards when reviewing proposed mergers for compliance with antitrust laws.

The bill’s sponsor Rep. Blake Farenthold, R-Tex., said the agencies currently use different procedures to challenge a merger, which he claims causes unequal burdens on merging parties.

However, most Democrats and the White House oppose the bill, arguing it would eliminate the FTC’s ability to use critical administrative and procedural tools to promote competition and protect consumers.

Full Content: Reuters

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