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    Home /  Insights /  Memos, Newsletters And Alerts /  Memo
    S&C Memos

    President Biden Issues Wide-Ranging Competition Executive Order With Significant Implications for M&A Activity

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    July 12, 2021

    The Order Directs a Host of Federal Agencies to Take a More Interventionist Role in Regulating Competition and Preventing “Unfair” Business Practices; Major Agency Rulemakings and Policy Changes are Anticipated That Will Lead to Increased Scrutiny of M&A Activity and Business Practices in Many Industries, Including Banking, Technology, Tlecommunications, Transportation, and Healthcare

    On July 9, 2021, President Biden issued an Executive Order on “Promoting Competition in the American Economy” (hereinafter the “Order”), which includes a wide-ranging slate of initiatives and directives. The Order emanates from the Administration’s view that a “trend of corporate consolidation” has led to a diminution in competition that has, in turn, resulted in increased prices, stunted economic growth, and suppressed wages. It echoes President Obama’s 2016 executive order, which urged federal agencies to give greater consideration to competition issues, but goes further by suggesting specific rulemakings and policy changes, often on an agency-by-agency basis.

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