indicate that so long as two firms remain in the market post merger, the average transaction price is roughly unaffected by … horizontal mergers. However, there are potential distributional effects; our estimates indicate that a three-to-two merger raises …

counterfactual experiments. The analysis is performed on data for a merger wave in U.S. radio that occurred between 1996 and 2006 … advertisers in large markets. Counterfactuals reveal that extra product variety created by post-merger repositioning increased …

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. -- Economic models …