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May 13, 2020 04:36 pm

Democrats escalate calls to ban large mergers during the pandemic


Senate Impeachment Trial Of President Trump Continues

Photo by Samuel Corum / Getty Images

On Wednesday, Democrats escalated efforts to ban major corporate mergers during the coronavirus pandemic, penning a letter to the Treasury Department calling for a ban on any mergers by companies that received pandemic relief.


For several weeks, lawmakers like Sen. Elizabeth Warren (D-MA) and Rep. David Cicilline (D-RI), chairman of the House Judiciary Committee’s subcommittee on antitrust, have pushed for a general moratorium on mergers until the pandemic ends. In April, Cicilline proposed that corporate mergers could only take place if a company was about to fail or already in bankruptcy.


Cicilline is currently leading a sweeping investigation into the tech sector over potential anti-competitive behavior.


Later that month, Warren,...



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Original Link: https://www.theverge.com/2020/5/13/21257396/democrats-corporate-mergers-elizabeth-warren-cicilline-klobuchar-delrahim-jordan-antitrust

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