'A Gift to the Oligarchs': Trump Pick to Replace Lina Khan Vowed to End 'War on Mergers' | Common Dreams
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Andrew Ferguson, President-elect Donald Trump's pick to lead the Federal Trade Commission vowed in his pitch to lead the key agency that he would end current chair Lina Khan's "war on mergers."
  • orclev@lemmy.world
    744·
    11 days ago

    War on mergers? What in the absolute fuck are they going on about? Our government has never been more friendly to mergers. We need to be breaking corporations up left right and center not approving more mergers.

    These fuckers aren’t going to be happy until there’s just one mega corp that owns literally everything (including the government).

    • skuzz@discuss.tchncs.de
      17·
      11 days ago

      These fuckers aren’t going to be happy until there’s just one mega corp that owns literally everything (including the government).

      “We’re calling the corporation: X”

    • Voroxpete@sh.itjust.works
      14·
      10 days ago

      This is just straight up misinformation. Lina Khan’s FTC was extremely hostile to large mergers, frequently suing to stop them, and that’s a very good thing. They also were working on several large antitrust cases, including one that they won against Google. They are literally in the process of breaking up a monopoly as I write this.

      All of that is going to get flushed down the fucking toilet now that the Republicans are back in. Good job America.

    • Psychodelic@lemmy.world
      7·
      11 days ago

      I get what you’re saying, there’s been way too much consolidation in way too many industries.

      That said, there have been quite a few mergers that have been blocked in the last 4ish years or so, to my surprise and pleasure. Albertsons-Kroger is the recent big one that in the news. JetBlue + Spirit were also blocked, and so was Penguin Random House + Simon & Schuster. Apparently, UnitedHealth wanted to merge with another insurance company and that was blocked as well

      Granted, it’s worth remembering: any examples of things they don’t like will always be blown out of proportion, by the right, and made to seem as though the sky is falling.

      Found this quote, which seems legit, tho the website seems a bit sketchy.

      This year, regulatory bodies, particularly the US Federal Trade Commission (FTC) and the Department of Justice (DOJ), have been actively scrutinizing merger deals to maintain market competition. Albertsons’ $25 billion merger with Kroger was halted, underscoring the FTC’s commitment to prevent monopolistic behaviors. Similarly, JetBlue and Spirit Airlines pulled back their $3.8 billion deal following a judicial decision highlighting anti-competitive issues. In the luxury sector, Tapestry’s attempt to acquire Capri was nixed by a court decision driven by an FTC lawsuit. Meanwhile, Avangrid’s acquisition of PNM Resources hit a dead end without regulatory approval, and UnitedHealth Group’s planned $3.3 billion takeover of Amedisys is facing DOJ lawsuits over competition concerns in home health services.

      Source: https://finimize.com/content/regulators-put-brakes-on-major-merger-deals-in-2024