This paper provides an illustration of the European Commission's application of the failing firm defence in its assessment of a merger involving a firm that is on the verge of failure. The paper will focus on a merger that was notified to the European Commission in 2010 but met with the...

The recent financial crisis has illustrated the unprecedented difficulties that companies faced as well as the initiatives that were adopted at corporate and government level in order to mitigate the adverse impact of the crisis.A strategic response for struggling firms and one of the means of...

The purpose of this article is mainly twofold: first, to discuss the difficulties that being a member of the European Monetary Union (‘EMU') entail, with particular focus on Greece and on the implications of an internal devaluation. Secondly, how debt re-profiling can help to support the...

During the economic crisis, most governments intervened in markets to support their banking industry on the basis that most of the players were ‘too big to fail' or at least the sector as a whole was too important to be weakened. Few governments allowed their intervention to be disciplined in...

This paper will seek to look at the legal toolkit and the economics and competition policy background of Art. 102 TFEU (the law prohibiting an abuse of a dominant position of an undertaking) against the backdrop of the general framework of EU Competition law, so as to enable a prima facie...

The stock market’s reaction to news can be a particularly valuable source of information that may lead to inferences about the nature of a merger or a take-over. The idea underlying event studies is that the reaction of share prices - which reflect expectations about a firm’s stream of...

European stock exchanges are turning into public listed organisations, after demutualisation, and aim at maximising profits for their stockholders. Stock exchanges are moving from an era of monopolies to a new era marked by competition. A study shows that 60 new financial stock exchanges were...

European Community Merger Regulation : Council regulation (EC) no 4064/89 -- The new European Community Merger Regulation - Council Regulation (EC) no 139/2004 -- Merger assessment and the legal substantive test : quantitative methods in merger analysis -- Mergers leading to non-coordinated...