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The Intercontinental Exchange's current attempted acquisition of NYSE-Euronext is the third takeover proposal in as many years. In this article the two previous attempts are reviewed and lessons are drawn from an antitrust and competition policy perspective concerning the evolving competitive...
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relative to what is socially optimal. Moreover, prohibiting acquisitions may increase or decrease consumer surplus. The more …, the more likely is that consumers benefit (suffer) following an acquisition. These results are robust to acquisitions …
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effect of mergers on innovation and future price competition; and reviews the empirical literature on competition, mergers …
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We analyze horizontal mergers when the acquirer holds a passive partial ownership stake (PPO) in the target firm prior … proposal to get mergers approved which are, in fact, detrimental to consumers. …
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applies a consumer surplus standard. Remedies increase the scope for profitable and acceptable mergers, while divestitures to … induces strictly price-decreasing mergers. Finally, under incomplete information an effcient merger type is to be doomed to …
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