evidence that the merger-review regime is failing to perform its core procompetitive function. Industry concentration and the … aggressive antitrust interventions have critiqued the substantive merger-review standard, arguing that it is too friendly to … merging firms. This Article traces the problem to a different source: the merger-review process itself. The growing length of …

level required by the European Commission in individual cases. Evidence is presented that merger characteristics, such as … successful. It is also shown that pre-merger expectations about merger-generated efficiencies increase the likelihood of … successful offers. These findings are very important features of EC merger control, and a novelty in the existing literature. If …

We modify the UPP test of Farrell and Shapiro (2010) to take into account the possibility that a merger weakens (or … eliminates) a vertical supply relationship. After deriving a general effect of the merger, we provide an example of simple …

assumption were held, a positive external effect of a proposed merger would represent a sufficient condition to allow the merger … this restrictive assumption and allow for unprofitable mergers to occur. This exerts a considerable impact on merger policy … effect does not represent a sufficient condition for the allowance of a merger any longer. Applying such a rule would cause a …

This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions … important merger cases, Facebook/Instagram and Google/Waze, providing a systematic assessment of the theories of harm considered …

This paper presents a broad retrospective evaluation of mergers and merger decisions in the digital sector. We first … theories of harm in major merger cases in the past few years. We then analyse the characteristics of almost 300 acquisitions … important merger cases, Facebook/Instagram and Google/Waze, providing a systematic assessment of the theories of harm considered …

This paper analyzes the effects of a merger between a German supermarket chain and a soft discounter on consumer prices … indicate that both insiders and outsiders raised average prices after the merger, particularly in regions with high expected …

mergers. If this assumption held, a positive external effect of a proposed merger would represent a sufficient condition to … allow the merger. However, the empirical picture on mergers and acquisitions reveals a significant share of unprofitable … merger policy conclusions: while several insights of the original analysis are corroborated (f.i. efficiency defence), a …