Shekhar, Shiva; Wey, Christian - 2017
'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 …