No, but that's not the regulator's problem either. It's not as if there is some sacrosanct right for companies to merge that is being abrogated. The entire existence of a company is at the pleasure of government.
That's meant to be an explanation of how things are without making a value judgment. For-profit corporations are not people with human rights, they are amoral impersonal constructs, legitimized entirely by the state, intended to serve the economy. If they are not doing that adequately, for instance, by introducing monopolization concerns on a market, their behavior can be arbitrarily restricted.
