July 23 (Reuters) – The U.S. Department of Justice’s antitrust division said it would streamline the merger review process, a move that could expedite clearance for some deals as the Trump administration takes a more business-friendly antitrust stance.
Here are some details:
• Companies have to file paperwork for most large transactions to allow the DOJ and U.S. Federal Trade Commission to examine them for competition problems. Sometimes the agencies request more documents, a process that can take months.
• Now, the DOJ may decide to ask for fewer documents for some deals where it wants a closer look, and request more later if warranted. The streamlined process has been used previously, the DOJ said.
• “This change will allow for quicker and more efficient review of proposed transactions; more effective use of taxpayer resources; and above all, helps the Department do its job to safeguard a competitive marketplace while keeping America open for business,” said Associate Attorney General Stanley Woodward Jr.
(Reporting by Jody Godoy in New York; Editing by Chizu Nomiyama)
