apply our model to endogenous merger formation in an international oligopoly, and show that the equilibrium market structure …We examine how a downstream merger affects input prices and, in turn, the profitability of such a merger under Cournot … organising workers. If the input suppliers are plant-specific, we find that a merger is more profitable than in a corresponding …

. Furthermore, a merger can lead to an equilibrium in which only the high-demand market is served. This is more likely (i) the lower … consumers' transportation costs and (ii) the higher the concentration of the industry. Therefore, merger incentives are much …

We present a model of takeover where the target optimally sets its reserve price. Under relatively standard symmetry … restrictions, we obtain a unique equilibrium. The probability of takeover is only a function of the number of firms and of the … Bertrand models. A takeover is more likely under Bertrand competition if goods are substitutes and more likely under Cournot …

neglected. We introduce them into a standard oligopoly model of horizontal merger by assuming an (empirically supported …) decrease in labour demand due to merger-specific synergies and derive welfare effects. We find that efficiency benefits from …-side effects remain negligible. Eventually, policy conclusions for merger control are discussed. …

refer to hollowing-out as the situation where the target firm is shut down following a merger with a domestic or foreign … when a cross-border merger with hollowing out is not profitable but it is socially desirable. …

The paper proposes a theory of the anti-competitive effects of debt finance based on the interaction between capital …

mergers. If this assumption held, a positive external effect of a proposed merger would represent a sufficient condition to … allow the merger. However, the empirical picture on mergers and acquisitions reveals a significant share of unprofitable … mergers and economic theory, moreover, demonstrates that privately unprofitable mergers can be the result of rational action …

The seminal paper by Salant, Switzer and Reynolds (1983) showed that merger in a standard Cournot framework with linear … demand and linear costs is not profitable unless a large majority of the firms are involved in the merger. However, many … recurring to cost savings of merger. Firms interact with each other, with customers, suppliers, their owners, and with …

.9%, as hypothesized by monopsony theory. Based on a simple merger simulation, we find that a merger between the top two …

), there will be excessive entry into a Cournot oligopoly for a homogeneous commodity. However, input markets are often …