Double moral hazard problems are prevalent in merger remedies. We consider a holdup problem in which two merging … merger decision depends on the success of the transaction, the Competition Authority will clear the merger whenever the …

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

transition from an n to an n-1 player oligopoly after a merger. Competitors are identified via the European Commission's market … investigations and our methodology allows us to distinguish the externality due to the change in market structure from the merger …

merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private … information of the merged firm. The optimal merger policy trades off potential cost savings against regulatory distortions from … market induces a more lenient merger policy. The regulated firms' diversification into a competitive segment of the market …

We study the effect of a two-to-one merger on R&D activity in a dynamic model in which there is uncertainty about the … feasibility of innovation. Once an innovation has already taken place, the merger may block future innovations (cannibalization … effect). The merger may increase the probability of the first innovation (appropriability effect). The merger may bring the …

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 …