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Corporate Merger Reform Act


TexAgRepublican
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Senator Fitzgerald, with thanks to Mr. Hawley, introduces

A BILL

To ban all mergers and acquisitions by companies with market capitalization exceeding $100 billion.

SECTION 1. SHORT TITLE.

This Act may be cited as the “Corporate Merger Reform Act”.

SEC. 2. CLAYTON ACT AMENDMENT.

The Clayton Act (15 U.S.C. 12 et seq.) is amended—

(2) in section 7 (15 U.S.C. 18), by adding at the end the following:

“ No person with a market capitalization exceeding $100,000,000,000 (as adjusted and published for each fiscal year beginning after September 30, 2024, in the same manner as provided in section 8(a)(5) to reflect the percentage change in the gross national product for such fiscal year compared to the gross national product for the year ending September 30, 2023) shall acquire, directly or indirectly, the whole or any part of the stock or other share capital or the whole or any part of the assets of 1 or more persons engaged in commerce or in any activity affecting commerce, where in any line of commerce or in any activity affecting commerce in any section of the country, the effect of such acquisition, of such stocks or assets, or of the use of such stock by the voting or granting of proxies or otherwise, may be to lessen competition in any way.

“ Where a preponderance of the evidence (including direct evidence) is adduced to demonstrate that the effect of an acquisition may be substantially to lessen competition or to tend to create a monopoly, a plaintiff need neither establish market shares nor the concentration of any particular market.

“ No acquisition shall be presumed not to substantially lessen competition or tend to create a monopoly only because the parties to the acquisition do not compete directly against one another at the time of the acquisition.”; and

(3) in section 7a(a) (15 U.S.C. 18a(a)), in the undesignated matter following paragraph (2)(B)(ii)(III), by adding at the end the following: “In the case of any transaction involving a person, partnership, or corporation designated as a dominant digital firm under section 10A of the Federal Trade Commission Act, the person, partnership, or corporation shall file notification as required by this section.”.

PES: Ban all mergers and acquisitions by companies with market capitalization exceeding $100 billion

Former President Kyle Fitzgerald

Three-Time Republican Nominee

Nobel Peace Prize Winner

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