FTC and Justice Department double down on strategy to go after corporate monopolies

FTC Chair Lina Khan prepares to testify before the House Judiciary Committee on July 13. (Chip Somodevilla/Getty Images)

The Biden administration wants to shake up the rules for how corporate giants get to merge, expand and squash competition.

The Justice Department and the Federal Trade Commission on Wednesday detailed a revised approach to corporate mergers, updating how markets are defined and expanding what regulators can consider when they approve or block deals.