Cicilline, Rep. Jerrold Nadler, D-N.Y., the chairman of the House Judiciary Committee, and Rep. Jim Sensenbrenner, R-Wis., who are investigating Amazon’s market power, told Bezos in a letter asking for his appearance that the newspaper report contradicted what Amazon officials had previously told the committee.
Together these efforts will put big technology firms on the hot seat as they continue to prosper while many companies decline in the coronavirus shutdown economy.
Warren, in a statement about her legislation, said the merger moratorium would help save small companies that could be swallowed up by the Big Tech giants.
“As we fight to save livelihoods and lives during the coronavirus pandemic, giant corporations and private equity vultures are just waiting for a chance to gobble up struggling small businesses and increase their power through predatory mergers,” Warren said, adding that her legislation would “protect workers, entrepreneurs, small businesses, and families from being squeezed even more by harmful mergers during this crisis and any future national emergency.”
The moratorium proposed by Warren and Ocasio-Cortez would cover mergers and acquisitions involving companies with over $100 million in revenue, companies controlled by private equity companies and hedge funds, and companies that control a patent on sought-after personal protective equipment.