Efficiencies as a Defense in merger control analysis: a comparison of European and American Merger Policy PDF Download
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Author: Markus Martin
Publisher: GRIN Verlag
ISBN: 3869436573
Category : Business & Economics
Languages : en
Pages : 21
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Book Description
Seminar paper from the year 2006 in the subject Business economics - Miscellaneous, grade: 1, University of Tubingen, language: English, abstract: Effizienzgewinne als Verteidigungsargument in Fusionskontrollverfahren. Es wird die Handhabung in den USA und Europa vergleichend dargestellt.
Author: Markus Martin
Publisher: GRIN Verlag
ISBN: 3869436573
Category : Business & Economics
Languages : en
Pages : 21
Get Book Here
Book Description
Seminar paper from the year 2006 in the subject Business economics - Miscellaneous, grade: 1, University of Tubingen, language: English, abstract: Effizienzgewinne als Verteidigungsargument in Fusionskontrollverfahren. Es wird die Handhabung in den USA und Europa vergleichend dargestellt.
Author: Richard J. Gilbert
Publisher:
ISBN:
Category : Clayton Act
Languages : en
Pages : 40
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Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 102
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Book Description
This study has been prepared to inform discussions related to the proper consideration of efficiencies in merger review in Canada. The immediate purpose of the report is to review & contrast the approaches taken by competition agencies & courts in Australia, the European Union, the United Kingdom, & the United States with respect to the principles & methods they apply in reviewing mergers that promise significant efficiencies at the same time as they threaten competition. The introduction discusses motives for mergers, the effects of mergers on competition, the types of efficiencies that arise in consideration of mergers, how efficiencies should be incorporated into merger analysis, and the trade-off between efficiency gains and competition losses. The main section reviews the four countries' policies related to the consideration of efficiencies in merger review. To the extent possible, information is included about how these policies have evolved over the years. The appendix includes excerpts from merger-related legislative provisions in the four countries.
Author: Veronika Minkova
Publisher: GRIN Verlag
ISBN: 3656016984
Category : Law
Languages : en
Pages : 23
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Book Description
Essay from the year 2011 in the subject Law - Civil / Private, Trade, Anti Trust Law, Business Law, grade: 1,3, University of Reading, course: European Competition Law, language: English, abstract: The first section of the present essay discusses historically the European Commission’s approach towards efficiencies. The second section elaborates on the choice of welfare standards and explains the European approach of adopting the consumer welfare standard. The third section outlines types of efficiencies according to the economic literature. The fourth section discusses the three cumulative conditions of the European Commission in order to consider efficiency claims. The next section reveals the Commission decisional practice in cases of efficiency claims and analyses its development. In the last chapter more attention is paid to theory and practice of efficiencies in cases of non-horizontal mergers.
Author: Malcolm B. Coate
Publisher:
ISBN:
Category : Consolidation and merger of corporations
Languages : en
Pages : 46
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Book Description
Author: Alan A. Fisher
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 182
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Book Description
Author: Mory Fodé Fofana
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Mergers and acquisitions can lead to anti-competitive structural change in the market place. Despite this detrimental effect, mergers and acquisitions have also the potential to generate significant efficiencies through a better resource allocation and other forms of synergy that either merging party could not have achieved without the proposed transaction. Consequently, many antitrust agencies take into account the balancing effects of efficiency gains compared to anti-competitive effects that may result from mergers and acquisitions. In order to appropriately consider efficiency claims in the merger evaluation, competition authorities generally establish certain criteria. Among the criteria considered, there are merger-specificity and the productive or allocative nature of claimed (anticipated) efficiencies. The merger-specificity test is often subject to confusing interpretation for two seasons: (i) there seems to be no clear indication of whether a claimed efficiency must be specific to the proposed merger or to any other merger; (ii) and, there is no clear indication of whether the claimed efficiencies should be industry (market)-wide or at the level of the newly merged entity. The purpose of this brief comparison is to provide a succinct outlook at how some OECD antitrust agencies approach the issue of merger-specificity of efficiency gains in merger analysis.
Author: Thomas L. Greaney
Publisher:
ISBN:
Category :
Languages : en
Pages : 15
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Book Description
One is hard-pressed to find in law an undertaking more fraught with uncertainty than the application of the efficiencies defense in merger analysis. Generalist fact finders (judges) and politically-attuned government officials (prosecutors and regulators) are charged with two Herculean tasks: (1) predicting the outcome of organic changes in business enterprises and (2) comparing the magnitude of those changes to the equally uncertain amount of harm to future competition that the transaction will cause. Given the enormous, perhaps intractable, uncertainty of this inquiry, it is therefore paradoxical that many of the strongest advocates for strengthening the role of efficiencies analysis in merger reviews are self-described proponents of bringing a lsquo;new empiricism' to antitrust analysis. This chapter focuses on the tensions inherent in incorporating an efficiencies defense (or evaluating efficiencies as part of the appraisal of mergers) and maintaining the rigour and impartiality promised by proponents of the lsquo;empirical' approach. This argument should not be misconstrued as a brief for abandoning the efficiencies inquiry altogether. Rather, it is, first, an appeal for candour (and humility) by those undertaking the inquiry; and second, it is a brief for constraining discretion by imposing more clearly delineated presumptive rules of law on judges and insisting on greater transparency by agencies in deciding whether to challenge mergers.
Author:
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 218
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Book Description
Author: Louis Kaplow
Publisher:
ISBN:
Category :
Languages : en
Pages :
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