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The two leading merger systems - those of the United States and the European Union - treat the potential benefits and risks of mergers asymmetrically. Both systems require considerably greater proof of efficiencies than they do of potential harms if the efficiencies are to offset concerns over...
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economic efficiency, nor to address any social or political factor. Rather, the overriding intent behind the merger laws was to … (which assumes mergers should be evaluated only in terms of net efficiency effects).In this and three related articles we re … calculating how large the necessary efficiency gains would have to be to prevent price increases under different market conditions …
Persistent link: https://www.econbiz.de/10013137684
Efficiency defence and merger remedies are key components in most merger control regimes. Although in many … jurisdictions both the provision of efficiency-related evidence and remedy offers are at the merging firms' discretion, most … firms face in merger litigation where they are allowed to choose what combination of efficiency claims and settlement offers …
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This paper reviews the assessment of efficiency claims in recent EU mergers. It focuses on three broad issues …
Persistent link: https://www.econbiz.de/10012952489
Although complementarity between products and/or technologies of bidders and targets is considered a key driver of M\&A deals, many observed mergers are inefficient: Complementarity gains in actual mergers are lower than the gains that could have been obtained were the targets acquired by...
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neglected literature such as that on the theory of the firm, and the relevance of vertical efficiencies to horizontal mergers …
Persistent link: https://www.econbiz.de/10013237386
A common practice in merger screening is to estimate and consider market shares and concentration. However, as stated in the United States Department of Justice (“DOJ”) and Federal Trade Commission (“FTC”) Horizontal Merger Guidelines (“Guidelines”), “[m]arket shares may not fully...
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