WASHINGTON (Reuters) - The U.S. Senate passed a bill on Tuesday that would increase fees that companies planning the biggest mergers pay to government antitrust agencies and give those agencies bigger budgets. The Federal Trade Commission and the Justice Department's Antitrust Division assess mergers to ensure that they comply with antitrust law. The measure would increase authorizations to each, giving the FTC a budget of $418 million, while the Antitrust Division would receive $252 million. Also under Biden's plan, the Antitrust Division would see its budget increase to $201 million from $185 million, an increase of 8.6%. "I'm glad to see my colleagues in the Senate also recognize this issue and support it (the bill) today,” he said.

Source: The Star June 09, 2021 00:46 UTC