Enhanced Merger Scrutiny: Protecting Prices, Jobs, and Worker Bargaining Power
This Act introduces new rules for scrutinizing large corporate mergers to prevent price increases and the deterioration of working conditions. Government agencies will monitor acquisitions after they are completed to determine if they have led to reduced wages, elimination of unionized jobs, or offshoring of work. Labor organizations will gain the right to submit information about potential harm from mergers, which can extend the transaction approval process.
Key points
Post-Merger Monitoring: Antitrust agencies (FTC and DOJ) must regularly monitor large, completed mergers to check if they have substantially lessened competition, raised prices, or reduced worker bargaining power.
Job and Wage Protection: Mergers will be evaluated for negative impacts on employees, including wage reductions, facility closures, elimination of jobs covered by collective bargaining agreements, and moving domestic jobs abroad.
Increased Union Rights: Affected labor organizations gain the right to submit documents and information regarding potential harm from a proposed merger, which can extend the waiting period for approval by an additional 60 days.
New Disclosure Requirements: Companies planning major mergers must provide more detailed data on the transaction's impact on labor markets, including information on unionized employees and analyses of employment effects.
Expired
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