DOJ’s Delrahim Tells Congress to Raise the Bar for Transactions
Pass legislation to make it harder for dominant companies to buy smaller competitors in the same market, DOJ Antitrust Division Chief Makan Delrahim said Tuesday (see 2101150067). “For firms with more than 50 percent market share in any defined market,…
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there should be a presumption that further acquisitions in that same market are anticompetitive.” His proposal would let combining companies rebut those findings if they can show the parties “post-transaction would not be able to exercise market power” or “the anticompetitive effects of the transaction are insubstantial, or outweighed by the procompetitive benefits.” He said the top issue facing Congress and his successor involve “market integrity and market power in the increasingly concentrated digital marketplace.” So “pass legislation to introduce bright line rules and alter the burdens of proof in civil merger cases in order to effectively combat certain excessive market concentration.”