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US: Senate antitrust panel to hold hearing on tech mergers

By  |  September 3, 2019

A Senate panel will hold a hearing later this month to examine antitrust concerns about Silicon Valley mergers as tech giants continue to face heightened scrutiny over their market power.

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    The Senate Judiciary Subcommittee on Antitrust announced Tuesday, September 3, that it would hold a hearing on September 24 to “explore issues relating to competition in technology markets and the antitrust agencies’ efforts to root out anticompetitive conduct.”

    “Acquisitions of nascent or potential competitors by dominant digital platforms can be pro-competitive, but they also run the risk of eliminating the very competition that may challenge the incumbent firm’s leading position in the future,” Sen. Mike Lee (Republican – Utah), who chairs the panel, said in a statement. “We are holding this hearing to gain a better understanding of the various concerns raised by these transactions and to examine how the antitrust agencies analyze such mergers.”

    Sen. Amy Klobuchar (Minnesota), the Subcommittee’s ranking Democrat and a 2020 presidential candidate, said the series of acquisitions that have propelled tech giants’ rapid growth over the years raise “serious competition issues.”

    Full Content: The Hill, Senate

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