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PRINTER'S NO. 1807
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE RESOLUTION
No.
347
Session of
2017
INTRODUCED BY PASHINSKI, CALTAGIRONE, DONATUCCI AND KORTZ,
MAY 23, 2017
REFERRED TO COMMITTEE ON COMMERCE, MAY 23, 2017
A RESOLUTION
Urging the Congress of the United States to study and take
action to ensure the effectiveness of the merger review
process and the Premerger Notification Program to foster fair
market competition and prevent anticompetitive, monopolistic
merges.
WHEREAS, A fair and competitive marketplace, free from
monopolies, strengthens our economy and insulates the public
from damage caused when large companies and mergers fail; and
WHEREAS, In recent decades, the nation's economy has seen an
influx of high-profile and potentially troublesome mergers in a
variety of industries and sectors of the economy, including the
telecommunication, pharmaceutical, banking and insurance
industries; and
WHEREAS, The Premerger Notification Program was established
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976
to prevent large companies from substantially lessening market
competition or creating a monopoly; and
WHEREAS, The Federal Trade Commission and the United States
Department of Justice review most of the proposed transactions
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that affect commerce in the United States and are over a certain
size, and either agency can take legal action to block deals in
the interest of the economy; and
WHEREAS, Each year more than 95% of all acquisitions and
proposals are cleared during the initial review period; and
WHEREAS, A 15-day initial review period for cash tender and
bankruptcies is an insufficient amount of time to determine
anticompetitive effects of a merger; and
WHEREAS, A 30-day preliminary review period is an
insufficient amount of time to determine anticompetitive effects
of a merger; and
WHEREAS, In 2005, the Federal Trade Commission established
the Merger Process Task Force to assess and make recommendations
regarding the merger review process; and
WHEREAS, Significant reform to the merger review process has
not been made since the 2006 reform as a result of the Merger
Process Task Force; and
WHEREAS, Reform of the merger review process and the
Premerger Notification Program is necessary to adapt to current
legal standards and technology; and
WHEREAS, A system of accountability must be implemented to
ensure that mergers are not negatively impacting fair market
competition; therefore be it
RESOLVED, That the House of Representatives of the
Commonwealth of Pennsylvania urge the Congress of the United
States to study and take action to ensure the effectiveness of
the merger review process and the Premerger Notification Program
to foster fair market competition and prevent anticompetitive,
monopolistic merges; and be it further
RESOLVED, That copies of this resolution be transmitted to
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the presiding officers of each house of Congress and to each
member of the Pennsylvania Congressional Delegation.
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