Killing Mergers Hurts America’s Global Competitiveness

Microsoft buying Activision would help the firm compete with Japan’s Sony and Nintendo.

Wonder Land: The attorneys general of 19 states have sent a letter to JPMorgan Chase, accusing it of discrimination against conservative religious groups. The bank denies it. The business of America should become business again, not politics. Images: Zuma Press/Bloomberg News Composite: Mark Kelly

Two years after setting out to “promote competition in the U.S. economy” with a “whole of government” policy agenda that hinges on aggressive antitrust enforcement, the Biden administration has unquestionably succeeded at one thing: casting a pall over corporate mergers and acquisitions.

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