Sen. Booker Introduces CLEAN Mergers Act to Unwind $10 Billion Corporate Deals
The CLEAN Mergers Act is currently in the early stages of the legislative process. It was recently introduced in the Senate and sent to the Committee on the Judiciary for review. The bill is actively moving forward as it waits for the committee to discuss its next steps.
This bill is led by one party and targets a specific four-year period, making it a highly partisan effort that is unlikely to get the support needed to pass.
Scores run from -100 (strongly harmful) to +100 (strongly beneficial) for each group, combining impact, certainty, scope, and duration ratings of 1-5. How impact scoring works
Large mergers often result in layoffs and workforce consolidation. The bill requires companies seeking to avoid divestiture to prove the deal was not followed by significant reductions in employment. By creating accountability for job losses tied to mega-mergers, the bill could help protect workers, including union members, from post-merger downsizing.
“The threshold transaction was not followed by any significant reduction in employment inconsistent with representations made or omitted during agency review of the transaction.”
Read twice and referred to the Committee on the Judiciary.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Senator Cory Booker and Elizabeth Warren introduced the CLEAN Mergers Act, targeting $10 billion-plus deals approved during the Trump administration. The bill requires companies to prove their mergers didn't harm competition or face mandatory breakups within 180 days.
The CLEAN Mergers Act would empower federal agencies to reexamine mergers worth over $10 billion for signs of political interference. The legislation follows a WSJ report documenting retaliation against antitrust officials who resisted pressure to approve certain deals.
A new legislative push led by Senator Cory Booker aims to unwind massive corporate combinations like HPE-Juniper and T-Mobile-UScellular. The CLEAN Mergers Act shifts the burden of proof to corporations to show their deals did not raise prices or cut jobs.
No votes or related bills recorded for this bill yet.
Document Type
Congressional Bill
Official Title
CLEAN Mergers Act
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