The merger of Fleet and BankBoston in September 1999 resulted in a regional New England lending market in which only … one large, universal bank remained. We explore the extent to which that merger resulted in monopoly rents for the combined … merger, Fleet and BankBoston charged unusually low loan interest rates, reflecting their ability to realize economies of …

Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger … Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear …

banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …

In this paper, we develop a novel theory of cross-border mergers and acquisitions. Firms can choose between different … modes of foreign market access: exporting, greenfield FDI, and cross-border M&A. Our theory is based on three key ideas …. Third, capabilities are traded in a merger market. We address two questions: (1) what are the characteristics of firms that …

The Q-theory of investment says that a firm's investment rate should rise with its Q. We argue here that this theory … also explains why some firms buy other firms. We find that 1. A firm's merger and acquisition (M&A) investment responds to …, i.e., the 'Free-Cash Flow' story works, but explains a small fraction of mergers only, and 3. The merger waves of 1900 …

Focusing on takeover bids whose outcome can be predicted in advance with certainty, Grossman and Hart established the …

are robust to a range of approaches to address the endogeneity of firms' merger decisions …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the ability to commit can lead to a significant welfare improvement …

research in the areas of collusion and merger enforcement. Research relating to both collusion and mergers has made significant …-based measurement) and theoretical work in advancing our understanding of collusive and merger-related phenomena …