merger wave. The evidence indicates that the efficiency of the majority of acquiring firms increases following an acquisition …. Based on the parameter estimates, we calculate merger welfare effects. We find that total welfare increased by $583 …

Concentration-based screens for horizontal mergers, such as those employed in the US DOJ and FTC Horizontal Merger … Guidelines, play a central role in merger analysis. However, the basis for these screens, in both form and level, remains unclear …

We describe a simple initial indicator of whether a proposed merger between rivals in a differentiated product industry … from the merger, based on the price/cost margins of the merging firms' products and the extent of direct substitution …

neglected. We introduce them into a standard oligopoly model of horizontal merger by assuming an (empirically supported …) decrease in labour demand due to merger-specific synergies and derive welfare effects. We find that efficiency benefits from …-side effects remain negligible. Eventually, policy conclusions for merger control are discussed …

mitigating the market power impact of the merger) if merging firms divest assets to buyers outside the industry rather than …