1. Short title This Act may be cited as the Pandemic Anti-Monopoly Act of 2020 . 2. Moratorium on certain mergers and acquisitions (a) In general Except as provided in subsection (b), during the period beginning on the date of enactment of this Act and ending on the date on which the Federal Trade Commission votes unanimously under subsection (c), the following transactions are prohibited: (1) Acquisitions by firms with over $100,000,000 in revenue. (2) Acquisitions by financial institutions or equity funds with over $100,000,000 in capitalization. (3) Acquisitions by firms that are registered investment advisers under section 203 of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–3 ) or by firms that are majority-owned by a firm that is a registered investment adviser under that section. (4) Acquisitions involving firms with exclusive patent pertaining to coronavirus disease 2019 (COVID–19) pandemic-related production, manufacturing, distribution, or infrastructure, medical supplies, equipment, facilities, or services, and drug research, development, production, supply, reserves, or distribution. (5) Any other acquisition required to be reported under section 7A of the Clayton Act ( 15 U.S.C. 18a ). (6) Does not include an acquisition that is a transaction described in paragraph (1), (2), (3), (4), (5), (9), or (10) of section 7A(c) of the Clayton Act ( 15 U.S.C. 18a(c) ). (b) Waiver (1) In general Firms participating in any transaction described in subsection (a) may petition the Federal Trade Commission for a waiver by presenting clear and convincing evidence that the transaction will advance critical national security, economic, or public health interests during the emergency. (2) Failing firm The acquisition of a failing firm shall be considered to advance critical economic interests and shall be deemed to meet the criteria for a waiver under paragraph (1). A firm shall be deemed failing if the Commission concludes that— (A) the firm would be unable to meet the financial obligations of the firm in the