antitrust review outcome leads to a decline of 2.8 percent in acquirer firm value. We also show that lobbying before deal … antitrust concerns. However, this positive value effect of lobbying applies only in firms with strong corporate governance. Post …-announcement lobbying, concurrent with the antitrust review process, increases with adverse review outcomes. Our results highlight the role …

We consider merger remedies of the U.S. Department of Justice's Antitrust Division and the U.S. Federal Trade …