President Joe Biden's nomination of key staffers and recent executive order (EO) focused on "promoting competition in the American economy" signaled his administration's strong support for a government-wide revision of antitrust and regulatory policies to address the harm that can come from anticompetitive practices and high levels of industry concentration. In our view, this EO signals a shift in the government's approach to industry consolidation, a development that could lead to tougher reviews of proposed business combinations, longer time frames for deals to close, and more terms and conditions that must be met for a transaction to gain approval.
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