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This paper argues that in revising the Takeover Bid Directive, EU policymakers should adopt a neutral approach toward … kind. Unfortunately, takeover rules cannot be crafted so as to hinder all the bad takeovers while at the same time … current EC legal framework for takeovers overall hinders takeover activity in the EU, the paper identifies three rationales …
Persistent link: https://www.econbiz.de/10008728815
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We analyze horizontal mergers when the acquirer holds a passive partial ownership stake (PPO) in the target firm prior to the merger. We show that a PPO reduces the minimal synergy level necessary to make a merger beneficial for consumers. It follows that an antitrust authority ignoring existing...
Persistent link: https://www.econbiz.de/10009788178
The Intercontinental Exchange's current attempted acquisition of NYSE-Euronext is the third takeover proposal in as …
Persistent link: https://www.econbiz.de/10009788925
Persistent link: https://www.econbiz.de/10001930829
The 1914 Clayton Act prohibited any acquisition whose effect may be to “substantially” lessen competition. International Shoe defined § 7's word “substantially” by saying that an acquisition's effect is “substantial” only if it “will injuriously affect the public.” This paper...
Persistent link: https://www.econbiz.de/10013015129
This article looks at the distribution of two EC merger procedural events and examines the effect of the indefinite-length suspension of merger investigations. Although the ECMR refers to the suspension of investigations as an exceptional instrument, it is used in a high proportion of cases. As...
Persistent link: https://www.econbiz.de/10013155080
The rethinking of European Takeover Law is a current challenge as well as an ongoing task. The economic and political … takeover law with its obvious socio-economic implications. Above all, the imminence of Brexit is currently set to trigger such … fundamental changes. The UK vote to leave the EU will not only lead to the detachment of Europe's most important takeover market …
Persistent link: https://www.econbiz.de/10012977952
This chapter aims to review data-driven mergers including, but not limited to, major conglomerates involving large scale of individual user data, known as ‘big data', by Facebook (WhatsApp), Microsoft (Yahoo!, Skype and LinkedIn), Google (Double Click), TomTom (Tele Atlas), Publicis/Omnicon,...
Persistent link: https://www.econbiz.de/10012852029
This paper examines whether cartel breakdown provokes a period of intensive merger activity amongst the former cartelists, designed to re-establish tacit collusion. Using a novel application of recurrent event survival analysis for a pooled sample of 84 European cartels, it finds that mergers...
Persistent link: https://www.econbiz.de/10013034353