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S. 2847 (115th): Standard Merger and Acquisition Reviews Through Equal Rules Act of 2018


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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on May 15, 2018.


Standard Merger and Acquisition Reviews Through Equal Rules Act of 2018

This bill amends the Clayton Act with respect to notice to a state by the Department of Justice (DOJ) about federal actions brought for violations of antitrust laws.

The Federal Trade Commission (FTC) shall exercise the same authority and procedures as DOJ under the Clayton Act if the FTC has brought an action under such Act for the prohibition against acquisition by one corporation of the stock of another that may substantially lessen competition or tend to create a monopoly.

The Federal Trade Commission Act (FTCA) is amended to exclude proposed mergers, acquisitions, joint ventures, or similar transactions from ordinary FTC proceedings, except in cases where the FTC approves an agreement with the parties to the transaction that contains a consent order.

U.S. district courts shall have jurisdiction to issue writs of mandamus commanding compliance with the FTCA or any FTC order, if the FTC applies to such courts with respect to any activity related to consummation of a merger, acquisition, joint venture, or similar transaction that may result in an unfair method of competition.

This bill amends the Federal Communications Act of 1934 to require the Federal Communications Commission to approve or deny a license transfer application within 180 days of submission. These applications relate to transfer of control or assignment for radio station licenses.