Warren Introduces Bill to Bar Mergers Worth $5 Billion Or More

Democratic lawmakers introduced legislation Wednesday that would make mergers worth more than $5 billion illegal.

The Prohibiting Anticompetitive Mergers Act, from Sen. Elizabeth Warren (D-Mass.) and Rep. Mondaire Jones (D-N.Y.), would also bar deals resulting in market shares above 33% for sellers or 25% for employers.

The bill would “stomp out rampant industry consolidation that allows companies to raise consumer prices and mistreat workers,” according to a press release from the sponsors. They pointed to recent mergers like Meta Platforms Inc.‘s acquisition of Instagram and T-Mobile US Inc.‘s merger with Sprint.

The bill joins other Democratic efforts ...