There is broad concern that merger policy toward Big Tech has been too lenient. Big Tech typically operates in markets … merger policy promotes innovative entry by facilitating entry for buyout. I show that permissive merger policy can also … such improvements reduce the gains from merger. A second way is by facilitating incumbency for buyout, under which an …

Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms … multimarket firms create incremental value. We establish a simple theoretical model that determines merger value in a multimarket … firm environment. The model enables us to derive merger values as being independent of post-merger market shares, but …

us to analyze the effects different restructuring activities as part of the LBO have on the competitors' revenues. These … restructuring activities include changes to leverage, governance, or operating business, as well as M&A activities of the LBO target … company. We find that although LBOs itself have a negative influence on competitors' revenue growth, some restructuring …

We examine whether and how firms structure their merger and acquisition (M&A) deals to avoid scrutiny from antitrust …

This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product …