The U.S. antitrust watchdogs that pounced on Big Tech and deterred dealmaking throughout corporate America during President Joe Biden’s administration may be tamer and kept on a shorter leash by President-elect Donald Trump after he returns to the White House next year.
FILE - Lina Khan talks about health care costs at the Eisenhower Executive Office Building on the White House complex in Washington, April 3, 2024. FILE - Assistant Attorney General Jonathan Kanter of the Justice Department’s Antitrust Division speaks with reporters during a news conference at the Department of Justice, Aug. 23, 2024, in Washington. FILE - Audience members gather at Made By Google for new product announcements at Google on Aug. 13, 2024, in Mountain View, Calif.
But the changing of the guard may open a door for Google, Apple, Amazon and Facebook to avert prolonged court battles and negotiate settlements under a president that relishes in deal making. It’s a belief widely shared by most investors, which helped fuel a run up in the overall stock market since Election Day and boosted shares in companies trying to close deals announced during the Biden administration. One such example involves Capital One Financial and Discover, who aim to consummate their merger in a stock swap next year. Capital One’s market value has increased by 11% while Discover’s market value has climbed 16%.
“We are hopeful that we’ll see a return to the more traditional antitrust approach, where the agencies have generally tried to find ways to solve problems they see with targeted remedies that minimize government intervention in the marketplace,” Live Nation President Joe Berchtold said during a conference call with investors shortly after the election.
Donald Trump Joe Biden United States Government United States Amazon.Com Inc. 2024 United States Presidential Election Matt Gaetz Business Politics Boston U.S. Department Of Justice Government Policy Meta Platforms Inc. Elon Musk Apple Inc.
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