This paper introduces the Werden-Froeb Index (WFI) to assist in evaluating merger-specific efficiencies in horizontal … mergers. The index measures the weighted average reduction in marginal costs required to restore pre-merger equilibrium prices … and quantities after the (full or partial) merger is consummated. The WFI is well defined, objective and robust, and it …

We analyze the efficiency defense in merger control. First, we show that the relationship between exogenous efficiency … Mergers ; Efficiency Defense ; Merger Specific Efficiencies … find that merger proposals are largely aligned with a proper social welfare analysis which explicitly considers the without …

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 …

is an important enhancement of substantive merger appraisal, it should not be considered sufficient in itself for the … finding of a significant impediment to effective competition in terms of Article 2 of the EU Merger Regulation (EUMR). Rather … of any theory of harm …

This Essay provides an overview of U.S. antitrust merger practice in addressing efficiencies both in terms of actual … Merging in the Shadow of the Law: The Case for Consistent Judicial Efficiency Analysis. Moffitt's analysis could have … practitioners play during the merger process in shaping whether or not the agencies will litigate a case, or the types of issues …

economic efficiency, nor to address any social or political factor. Rather, the overriding intent behind the merger laws was to …. We also show that under efficiency analysis even a tiny cost savings would justify almost any merger, so a purely … efficiency-based approach effectively would negate the anti-merger laws! Finally, we demonstrate that price analysis is much more …

Efficiency defence and merger remedies are key components in most merger control regimes. Although in many … firms face in merger litigation where they are allowed to choose what combination of efficiency claims and settlement offers … to make. The main novelty of this work is the use of data from company reports on the merger-generated synergy …