We develop a model in which two firms that have proposed to merge are privately informed about merger …-specific efficiencies. This enables the firms to influence the merger control procedure by strategically revealing their information to an … on the merger control institution and, in particular, whether it involves an efficiency defense. We derive the optimal …

of the efficiencies relevant to a potentially problematic merger. Although numerous articles address efficiencies from a …, verification, and merger specificity) and the balancing of anticompetitive effects with efficiencies are considered. Although the …

At least since the early 1980s, the core principles of merger enforcement policy have been stable. Horizontal mergers …, however, the Federal Trade Commission and Department of Justice challenged one merger transaction, and almost challenged …

We study the effects of a vertical merger in a setting with a single upstream supplier of a critical input and two … downstream customers announce their retail prices. We find that after the vertical merger, the merged firm will prefer to … its price. We preform Monte Carlo simulations about the competitive effects of the vertical merger for the cases of linear …

The new US Department of Justice and Federal Trade Commission vertical merger guidelines promise enforcement based on … about the price effects of vertical mergers are underdeveloped. I model a vertical merger of an upstream monopolist with one … decision timing. The model yields a condition under which a vertical merger results in consumer price increases that is …

downstream prices will rise as a result of the merger. This approach has gained acceptance.In this paper we present the results … of Monte Carlo simulations of a vertical merger for a simple setup with one upstream monopolist and two downstream firms …

We analyze the impact of a merger on firms' incentives to innovate. We show that the merging parties always decrease … their innovation efforts post-merger while the outsiders to the merger respond by increasing their effort. A merger tends to … reduce overall innovation. Consumers are always worse off after a merger. Our model calls into question the applicability of …

conglomerate merger that results in a firm posttransaction having a larger portfolio or product range may have the ability and …

This paper studies Tesoro's 2013 acquisition of British Petroleum's Los Angeles refinery. We present a merger …