President-elect Donald Trump has chosen Republican lawyer Andrew Ferguson as his nominee to lead the Federal Trade Commission, potentially succeeding Lina Khan. Khan has been known for her strict stance on corporate mergers and her crackdown on Big Tech during her tenure at the FTC.
Ferguson, who may take a more lenient approach to M&A deals, is expected to maintain a tough stance on tech firms. Trump stated on his social media platform Truth Social, ‘Andrew has a proven record of standing up to Big Tech censorship, and protecting Freedom of Speech in our Great Country. Andrew will be the most America First, and pro-innovation FTC Chair in our Country’s History.’
Ferguson, who joined the FTC as a commissioner in April, has expressed his intentions to take on Big Tech, stating on a social media platform that under his guidance, the FTC ‘will end Big Tech’s vendetta against competition and free speech.’ He also pledged to ensure that America remains the world’s technological leader and the best place for innovators to bring new ideas to life.
Additionally, Trump nominated Republican antitrust lawyer Mark Meador to be an FTC commissioner. Meador, reported by The Wall Street Journal, is a former aide to Sen. Mike Lee (R., Utah), who recently introduced legislation aimed at breaking up Alphabet’s Google.
The FTC under Khan has been active in legal actions against tech giants, suing Amazon and Meta Platforms for allegedly abusing their monopolistic position to stifle competition.
M&A activity has not reached the highs of 2021, with the total U.S. M&A volume for the year standing at $1.35 trillion, slightly above the 2023 figures but significantly lower than the $2.62 trillion in 2021, according to Dealogic. Khan has blocked numerous deals, including a $20 billion merger between Kroger and Albertsons, which a federal judge blocked yesterday, leading to Albertsons terminating the deal and filing a lawsuit against Kroger for a ‘willfully deficient’ approach to securing regulatory clearance.
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