The Federal Trade Commission announced that it’s issued Special Orders to Apple, Amazon, Facebook, Microsoft, Google, and Google parent company, Alphabet, requiring them to provide information about prior acquisitions not reported to the antitrust agencies under the Hart-Scott-Rodino (HSR) Act.
The orders require the companies to provide information and documents on the terms, scope, structure, and purpose of transactions that each company consummated between Jan. 1, 2010, and Dec. 31, 2019
“Digital technology companies are a big part of the economy and our daily lives,” said FTC Chairman Joe Simons in the press release. “This initiative will enable the Commission to take a closer look at acquisitions in this important sector, and also to evaluate whether the federal agencies are getting adequate notice of transactions that might harm competition. This will help us continue to keep tech markets open and competitive, for the benefit of consumers.”
He added that the Commission plans to use the information obtained in this study to examine trends in acquisitions and the structure of deals, including whether acquisitions not subject to HSR notification might have raised competitive concerns, and the nature and extent of other agreements that may restrict competition. The FCC also seeks” to learn more about how small firms perform after they are acquired by large technology firms.”
