Senate Concurrence Clears SB 25 to Streamline Corporate Merger Process
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Summary
Lawmakers concurred in Assembly amendments to SB 25, moving the bill forward after the author described it as aligning California's merger review process with federal procedures and noting support from the California Chamber of Commerce.
The California State Senate on Jan. 29 concurred in Assembly amendments to SB 25, a bill sponsored by Sen. Michael Umberg that aims to streamline state review of corporate mergers and align California’s process with the federal review timeline.
Senator Umberg presented the measure on the floor, telling colleagues, “I have before you SB 25, which streamlines the merger process here in California and coordinates it and makes it complimentary to the federal process.” He said there was no registered opposition and that the California Chamber of Commerce supports the bill.
After the floor presentation the Senate took a roll-call consideration and recorded the concurrence in Assembly amendments. Senate officials announced the result as Ayes 33, Noes 0; the clerk recorded that the Assembly amendments were concurred in and the measure will proceed according to normal legislative order.
Senate leaders moved on to other business after the concurrence vote. No amendments or recorded dissent were reported on the floor during the public presentation.