Assembly approves SB 25 to give Attorney General earlier access to merger filings

SB 25 was presented on the Assembly floor on behalf of Senator Umberg by the Majority Leader. The sponsor argued the bill would streamline state merger review by giving the California Attorney General access to proposed merger filings at the same time they are filed with the Federal Trade Commission and Department of Justice. "This bill creates a smoother and more efficient merger review process by giving the attorney general access to these filings at the same time as federal agencies," the Majority Leader said, and the author noted amendments taken to address security concerns.

After debate ceased, clerks closed the roll and recorded the vote as 43 ayes and 14 noes; the Speaker announced the measure passed. The floor exchange referenced federal antitrust filing requirements and the intent to give the Attorney General more time to review mergers and provide concerns to businesses before a merger closes. The sponsor also indicated amendments had been taken to secure filings.

The recorded vote and the Speaker's announcement mark the bill as passed by the Assembly on third reading; further steps include any actions in the Senate or enrollment as required by the legislative process.