Budzinski, Oliver; Kretschmer, Jürgen-Peter - In: Contemporary economics 10 (2016) 1, pp. 13-26
assumption were held, a positive external effect of a proposed merger would represent a sufficient condition to allow the merger … theory, moreover, demonstrates that privately unprofitable mergers can be the result of rational action. Therefore, we drop … this restrictive assumption and allow for unprofitable mergers to occur. This exerts a considerable impact on merger policy …