Later in the article: "[Bureau Director Bruce] Hoffman said that firms could be “broken out,” or could be forced to “spin off” previous acquisitions as new competitors in order to recreate the markets pre-merger."
"The new task force comes amid growing pressure for antitrust action against large tech companies like Facebook and Google. Earlier this month, it was reported that FTC officials have been looking to levy a multibillion-dollar fine on Facebook for repeatedly violating a privacy agreement the two bodies came to back in 2011. A coalition of advocacy groups argued that a fine would not be enough to incentivize Facebook to be more cautious with consumer data and asked the FTC to force the company spinoffs, Instagram and WhatsApp, back into their own entities once again. The groups argued that Facebook was too big for it to adequately care for user data for all three major apps.New FTC task force will take on tech monopolies | The Verge
Discussion over retroactive merger reviews that may result in companies divesting previously approved assets has been heating up over the last few months. The Democratic-led House Judiciary Committee has been reportedly beefing up its antitrust arm and hiring on big names like Lina Khan in the academic sphere."
Post a Comment