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This article analyzes my short proposal for reviewing and modifying merger consent decrees to permit additional relief … if the provisions of the initial consent merger are found to fail to preserve or restore competition in a reasonable … period of time after the merger was consummated. My proposal also would involve more frequent reviews of consummated mergers …
Persistent link: https://www.econbiz.de/10012936232
We analyze the effects of structural remedies on merger activity in a Cournot oligopoly when the antitrust agency … induces strictly price-decreasing mergers. Finally, under incomplete information an effcient merger type is to be doomed to …
Persistent link: https://www.econbiz.de/10010340565
reactions around the day of the merger's announcement provide information on the first question, whereas the stock market … hypotheses on the effects that remedies are supposed to achieve depending on the merger's competitive outcome. We isolate several … merging firms' bargaining power during the second phase of the merger review. …
Persistent link: https://www.econbiz.de/10010366535
We find that stricter merger control legislation increases abnormal announcement returns of targets in bank mergers by … 7 percentage points. Analyzing potential explanations for this result, we document an increase in the pre-merger … other banks. Other merger properties, including the size and risk profile of targets, the geographic overlap of merging …
Persistent link: https://www.econbiz.de/10011518760
that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the … concerns about the Commission’s merger enforcement being too lax. …
Persistent link: https://www.econbiz.de/10012668490
scrutinized by the European Commission between 1995 and 2014. We show that concentration, as measured by the market-specific post-merger … dimension analyzed. Strict past merger enforcement negatively correlates with concentration. Yet, this effect is stronger in the …
Persistent link: https://www.econbiz.de/10012421242
. Even if market concentration and technological disadvantages lead to a significant welfare reduction after merger, from … takeover is hostile. …
Persistent link: https://www.econbiz.de/10010343946
Antitrust authorities all over the world are concerned if a particularly aggressive competitor, a "maverick", is bought out of the market. One plausible determinant of acting as a maverick is behavioral: the maverick derives utility from acting competitively. We test this conjecture in the lab....
Persistent link: https://www.econbiz.de/10009779217
appropriate simulation model for any given merger proposal. Due to the inevitable necessity to reduce real-world complexity and … multi-parameter character of merger cases, the comparative fit of proposed merger simulation models with mutually … regarding two aspects. First, the scope for partisan economic evidence cannot be completely eroded in merger control. Second …
Persistent link: https://www.econbiz.de/10003864436
employment of merger simulation models in merger control procedures during the past almost 15 years. Merger simulation is … of state-of-the-art merger simulation models and review their previous employment in merger cases as well as the problems … and limitations currently associated with their use in merger control. In summary, merger simulation models represent an …
Persistent link: https://www.econbiz.de/10003864445