In March 2025, Federal Trade Commission (FTC) Chair Andrew Ferguson met with CEOs from major corporations, including Edison International, Gap, Motorola Solutions, and Pfizer, to discuss the agency's approach to mergers and acquisitions (M&A). Ferguson assured the executives that the FTC would not unnecessarily delay proposed M&A activities but emphasized that large deals would not receive automatic approval. This meeting reflects the Trump administration's stance on supporting economic growth through business mergers while maintaining some scrutiny.

Ferguson, appointed by President Donald Trump in December 2024, succeeded Lina Khan as FTC Chair. His appointment signaled a shift in the agency's approach to antitrust enforcement, with a focus on easing regulatory burdens and fostering a more business-friendly environment. Ferguson has expressed intentions to reverse what he described as Khan's "anti-business agenda," including rolling back certain regulations and reassessing the agency's role in emerging sectors like artificial intelligence.

Despite this pro-business stance, Ferguson has committed to maintaining rigorous antitrust enforcement, particularly concerning Big Tech companies. He has stated that the FTC will "vigorously" sue to block illegal mergers, indicating a balanced approach that supports business growth while ensuring competitive markets.

Ferguson's legal career includes serving as solicitor general of Virginia from 2022 to 2024, chief counsel to Senate Republican leader Mitch McConnell, and clerking for Supreme Court Justice Clarence Thomas. His background suggests a legal philosophy that may influence the FTC's policies under his leadership.

The FTC's approach under Ferguson has significant implications for the business community and the broader economy. By assuring CEOs that the agency will not unnecessarily delay M&A activities, the FTC aims to create a more predictable regulatory environment, potentially encouraging more corporate mergers and acquisitions. This could lead to increased business consolidation, with potential benefits such as economies of scale and enhanced global competitiveness.

However, Ferguson's commitment to rigorous antitrust enforcement suggests that the agency will continue to scrutinize mergers that may harm competition or consumer interests. This balanced approach seeks to support economic growth while preventing monopolistic practices that could lead to higher prices or reduced innovation.

The FTC's current stance represents a shift from the previous administration's approach under Lina Khan, who was known for her aggressive antitrust enforcement, particularly against Big Tech companies. Ferguson's leadership indicates a move towards reducing regulatory burdens while maintaining essential antitrust oversight. This approach aligns with the Trump administration's broader economic policies aimed at fostering business growth and innovation.

Andrew Ferguson's leadership at the FTC marks a pivotal shift in the agency's approach to mergers and antitrust enforcement. By balancing a pro-business stance with a commitment to maintaining competitive markets, Ferguson aims to foster economic growth while safeguarding consumer interests.