Attorney General Bonta Issues Statement on U.S. DOJ and FTC’s Proposed Merger Guidelines

OAKLAND – California Attorney General Rob Bonta today issued the following statement in response to the new proposed Merger Guidelines unveiled by the U.S. Department of Justice and the Federal Trade Commission:

“Merger Guidelines serve a critical purpose: They inform the public on how our federal partners identify potentially illegal mergers,” said Attorney General Bonta. “Like so many Americans, I am deeply concerned about the increasing concentration and reach of corporate power in so few hands. Competition laws protect the lifeblood of our economy, and I am pleased to be joined by our federal partners in vigorous enforcement of these laws. The proposed updated Merger Guidelines announced today are a significant step forward. I applaud the U.S. Department of Justice and Federal Trade Commission for taking a comprehensive look at their Merger Guidelines and proposing updates that are designed to foster innovation while reflecting the complex realities of our diverse economy. I am especially pleased that the guidelines expressly recognize that workers and labor organizations can provide helpful information, including regarding working conditions and the individualized needs of workers in the market in question. The California Department of Justice has long fought to protect competition, and we will continue this important work to ensure that our markets serve all Californians.”