White House opposes bill it says harms FTC consumer protection ability

WASHINGTON (Reuters) - The White House said on Monday that the Obama administration "strongly opposes" passage by the House of Representatives a bill on mergers and acquisitions, saying it harms a federal agency's ability to promote competition and protect consumers.

Proposed changes to the Standard Merger and Acquisition Reviews Through Equal Rules Act of 2015, sponsored by Representative Blake Farenthold, a Texas Republican, "threaten to undermine the (Federal Trade Commission's) important role in protecting competition and consumers," the White House said in a statement.

(Reporting by Timothy Gardner; Editing by Chris Reese)

You May Also Be Interested In

• Citadel unwinds 80% of Aschenbrenner’s portfolio risk - report
• CoStar Group acquires Zonda for $800M, adding new home data
• QSE closes $6M private placement with final tranche of $674K