Restoring and Improving Merger Enforcement Act of 2018

Bill: 115-hr-5642
Sponsor: full_name: Rep. Nadler, Jerrold [D-NY-10]
Introduced: 2018-04-26
Policy area: Commerce
Subjects: Business records

Competition and antitrust

Consumer affairs

Corporate finance and management

Judicial review and appeals
Latest action: action_date: 2018-05-22
text: Referred to the Subcommittee on Regulatory Reform, Commercial And Antitrust Law.

Summaries:
action_date: 2018-04-26
action_desc: Introduced in House
text: <p><b>Restoring and Improving Merger Enforcement Act of 2018</b></p> <p>This bill revises the standard for determining whether a proposed corporate acquisition would substantially lessen competition. Specifically, the bill establishes that a court may consider a claim that the acquisition would increase efficiency only if such increased efficiency (1) is verifiable, (2) could not be accomplished without the acquisition, and (3) would promote competition. The bill also places the burden of proof&nbsp;on the defendant claiming that increased efficiency will eliminate the substantial lessening of competition that would result from the proposed acquisition.</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5642 IN THE HOUSE OF REPRESENTATIVES April 26, 2018 Mr. Nadler (for himself, Mr. Cicilline , Mr. Ellison , and Mr. Crowley ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To amend the Clayton Act with respect to mergers.

1. Short title This Act may be cited as the Restoring and Improving Merger Enforcement Act of 2018 . 2. Merger-specific efficiencies Section 7 of the Clayton Act ( 15 U.S.C. 18 ) is amended by adding at the end the following: In determining whether the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly, a court may consider a claimed efficiency of such acquisition only if it could not be accomplished in the absence of such acquisition, it is verifiable, and it would promote competition. A person against whom an action is brought for a violation of this section shall have the burden to establish, by the preponderance of the evidence, that the claimed efficiency will eliminate the substantial lessening of competition that may occur as a result of such acquisition. . 3. Report on claimed efficiencies Section 7A of the Clayton Act ( 15 U.S.C. 18a ) is amended by adding at the end the following: (l) Information required Each person who enters into an agreement with the Federal Trade Commission or the United States to resolve a proceeding brought under the antitrust laws or under the Federal Trade Commission Act ( 15 U.S.C. 41 et seq.) regarding an acquisition with respect to which notification is required under this section shall, on an annual basis during the 5-year period beginning on the date on which the agreement is entered into, submit to the Federal Trade Commission or the Assistant Attorney General, as applicable, information sufficient for the Federal Trade Commission or the United States, as applicable, to assess the source, and the resulting magnitude and extent, of any cost-saving efficiencies or any consumer benefits that were claimed as a benefit of the acquisition and the extent to which any cost savings were passed on to consumers. .