inputs and outputs. Results are mixed for outcomes related to variety and product quality. Literature on merger effects on … derive a number of ideas and options for merger policy. …

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 PPOs when evaluating merger proposals (which reflects the … current EU merger control regime) invites sneaky takeovers: Acquiring firms strategically use PPOs prior to a full merger …

predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity, a merger reduces innovation of both the merged entity and non-merging competitors in an industry with high R … consistent with many predictions of the theoretical model. Our main result is that after a merger, patenting and R&D of the …

We analyze the effects of structural remedies on merger activity in a Cournot oligopoly when the antitrust agency … induces strictly price-decreasing mergers. -- Remedies ; Divestiture ; Merger Control ; Oligopoly ; Synergies …

's takeover strategy and the decision problem of the antitrust authority. We derive implications for a merger control approach to … acquirer firm to learn the merger synergies with the target firm in advance. The realization of a synergy is uncertain ex ante …, so that a direct merger exhibits a downside risk not only for the merging candidates but also for consumers. We show that …

set of industries. We exploit expert market definitions from the European Commission's merger decisions to identify … particularly pronounced in markets with few players, high initial markups and concentration. We also provide evidence that merger … rivals reduce their employment, sales and investment, while their profits increase around the time of a merger. …

, efficiency gains resulting from managerial effort are not merger specific, i.e., they may be realized by all firms before and … after a merger. We show that synergies suppress managerial incentives within the non-merging firms, whereas the effect on … the merged firm critically depends on the number of agents employed by its principal. An important implication for merger …

actually reduce consumer surplus which opposes the use of an efficiency defense in merger control. …