When Congress called for a comprehensive review of antitrust law in 2001, Microsoft Corp. had been ruled a monopolist and violator of competition laws in 19 states, mergers had plunged 38 percent and European regulators had blocked General Electric Co.’s $42 billion bid for Honeywell International Inc.

Today, Microsoft has settled with U.S. trustbusters but still battles their European counterparts. Mergers soared in 2005 to $2.7 trillion, a 38 percent increase from 2004, and the Antitrust Modernization Commission is entering its final months of deliberation.

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