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Predation and Mergers: Is Merger Law Couterproductive?.

Persson, L. - Institutet för Näringslivsforskning (IFN) - 1999

predation in an oligopoly is limited by the subsequent competition for the prey. This bidding competition is especially fierce …-riding problem associated with mergers, and second, destructive predation helps firms avoid the bidding competition. It is also shown … predators avoid the bidding competition. Moreover, the incentive for predation under the US failing firm defense might be even …

Persistent link: https://www.econbiz.de/10005639303

Predation and Mergers: Is Merger Law Counterproductive?

Persson, Lars - Institutet för Näringslivsforskning (IFN) - 1999

predation in an oligopoly is limited by the subsequent competition for the prey. This bidding competition is expecially fierce …-riding problem associated with mergers, and second, destructive predation helps firms avoid the bidding competition. It is also shown … predators avoid the bidding competition. Moreover, the incentive for predation under the US failing firm defense might be even …

Persistent link: https://www.econbiz.de/10005645374

Why Event Studies Do Not Detect Anti-Competitive Mergers.

Fridolfsson, S.-O.; Stennek, J. - Institutet för Näringslivsforskning (IFN) - 2000

Anticompetitive mergers increase competitors' profits, since they reduce competition. Using a model of endogenous …

Persistent link: https://www.econbiz.de/10005639320

Should Mergers be Controlled?.

Fridolfsson, S.-O.; Stennek, J. - Institutet för Näringslivsforskning (IFN) - 2000

. Merger control may help protect competition. Holdup and intertemporal links make policy design more difficult, however. Even …

Persistent link: https://www.econbiz.de/10005639334

Anti- versus Pro-Competitive Mergers

Fridolfsson, Sven-Olof - Institutet för Näringslivsforskning (IFN) - 2007

In a framework where mergers are mutually excluding, I show that firms pursue anti- rather than (alternative) pro-competitive mergers. Potential outsiders to anti-competitive mergers refrain from pursuing pro-competitive mergers if the positive externalities from anti-competitive mergers are...

Persistent link: https://www.econbiz.de/10005419523

Mergers by Partial Acquisition

Lindqvist, Tobias - Institutet för Näringslivsforskning (IFN) - 2004

This paper evaluates partial acquisition strategies. The model allows for buying a share of a firm before the actual acquisition takes place. Holding a share in a competing firm before the acquisition of another firm, outsider-toehold, eliminates the insiders' dilemma, i.e. profitable mergers do...

Persistent link: https://www.econbiz.de/10005645314

Acquisiton Strategies: Empirical Evidence of Outsider-Toeholds

Lindqvist, Tobias - Institutet för Näringslivsforskning (IFN) - 2005

Theoretically, cross ownership may mitigate mergers, i.e. market concentrations. Holding a share in a competing firm before the acquisition of another firm, outsider-toehold, is more profitable in some market constellations, due to the positive externality on the outsider (competing) firm when a...

Persistent link: https://www.econbiz.de/10005645341

Why Event Studies Do Not Detect Anti-Competitive Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2000

Anticompetitive mergers increase competitors' profits, since they reduce competition. Using a model of endogenous …

Persistent link: https://www.econbiz.de/10005645370

Should Mergers be Controlled?

Fridolfsson, Sven-Olof; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2000

. Merger control may help protect competition. Holdup and intertemporal links make policy design more difficult, however. Even …

Persistent link: https://www.econbiz.de/10005645389

Industry Concentration and Welfare - On the Use of Stock Market Evidence from Horizontal Mergers

Fridolfsson, Sven-Olof; Stennek, Johan - Institutet för Näringslivsforskning (IFN) - 2006

There is diverging empirical evidence on the competitive effects of horizontal mergers: consumer prices (and thus presumably competitors' profits) often rise while competitors' share prices fall. Our model of endogenous mergers provides a possible reconciliation. It is demonstrated that...

Persistent link: https://www.econbiz.de/10005645428