The commission voted 5-0 to issue special orders to review the past mergers.
The FTC will require the companies to provide information on acquisitions not previously reported to the antitrust agencies under the Hart-Scott-Rodino Act, according to a press release. Companies arefor review by the FTC and Department of Justice, usually when a deal is valued at more than $90 million, according to the FTC website.
"The orders will help the FTC deepen its understanding of large technology firms' acquisition activity, including how these firms report their transactions to the federal antitrust agencies, and whether large tech companies are making potentially anticompetitive acquisitions of nascent or potential competitors that fall below HSR filing thresholds and therefore do not need to be reported to the antitrust agencies," according to the release.
The special orders suggest that the FTC is honing in on the question of how Big Tech companies use acquisitions to amass power and how the data from acquired companies are used. The FTC has confirmed it is investigating Facebook for potentially anticompetitive practices after the company disclosed the probe. Several outlets have reported it is also probing Amazon, while the Justice Department has oversight of Apple and Alphabet-owned Google.
In addition to providing information that would typically be required for HSR disclosures, the FTC is ordering the companies to disclose "information and documents on their corporate acquisition strategies, voting and board appointment agreements, agreements to hire key personnel from other companies, and post-employment covenants not to compete."
The orders also ask companies to share information about "how acquired assets were integrated and how acquired data has been treated."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTC warns loan comparison site sold rankings to highest bidders
Read more »
Schick Owner Abandons Takeover of Harry’s Following FTC Suit to Block ItEdgewell Personal Care said Monday it is now moving forward as a stand-alone company and is pursuing its strategy to create value for shareholders.
Read more »
Republican Senator proposes overhauling FTC and making it part of the DOJ to take on Big TechSen. Josh Hawley, R-Mo., proposed overhauling one of the main agencies that regulates Big Tech on privacy and antitrust matters.
Read more »
Exclusive: Deutsche Bank taps U.S. tech companies for makeover - sourcesDeutsche Bank has invited bids from Microsoft, Google and Amazon to overhaul the...
Read more »
Amazon Seeks to Depose Trump Over Pentagon ContractAmazon.com asked a judge to allow it to depose President Trump in the company’s legal battle to overturn a Pentagon decision awarding a huge cloud-computing contract to rival Microsoft.
Read more »
Amazon Wants To Depose Trump Over Losing $10 Billion ‘War Cloud’ ContractAmazon claims it lost the lucrative JEDI contract to Microsoft because President Donald Trump is biased against the company.
Read more »