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Trends In Vertical Merger Enforcement
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Author :United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Competition Policy, Antitrust, and Consumer Rights Publisher : ISBN 13 : Total Pages :0 pages Book Rating :4.:/5 (143 download)
Book Synopsis Trends in Vertical Merger Enforcement by : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Competition Policy, Antitrust, and Consumer Rights
Download or read book Trends in Vertical Merger Enforcement written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Competition Policy, Antitrust, and Consumer Rights and published by . This book was released on 2024 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oversight of government merger enforcement policy by : United States. Congress. Senate. Committee on the Judiciary
Download or read book Oversight of government merger enforcement policy written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1982 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Oversight of Government Merger Enforcement Policy: First session, October 27 and November 19, 1981 by : United States. Congress. Senate. Committee on the Judiciary
Download or read book Oversight of Government Merger Enforcement Policy: First session, October 27 and November 19, 1981 written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1982 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Invigorating Vertical Merger Enforcement by : Steven C. Salop
Download or read book Invigorating Vertical Merger Enforcement written by Steven C. Salop and published by . This book was released on 2018 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Feature summarizes why and how vertical merger enforcement should be invigorated. In our modern market system, vigorous vertical merger enforcement is a necessity. Strong enforcement is particularly important in markets where economies of scale and network effects lead to barriers to entry and durable market power. Even when there are parallel vertical mergers, the result may well be an anticompetitive reciprocal dealing, coordinated equilibrium rather than intense competition among efficient integrated firms. Stronger enforcement would involve several steps, including recognition that claims of elimination of double marginalization do not deserve to be silver bullets and that behavioral remedies are generally unable to prevent anticompetitive effects.
Book Synopsis Efficiency Considerations in Merger Enforcement by : Alan A. Fisher
Download or read book Efficiency Considerations in Merger Enforcement written by Alan A. Fisher and published by . This book was released on 1981 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Merger Enforcement Challenges at the FTC by : Varney, Christine A.
Download or read book Vertical Merger Enforcement Challenges at the FTC written by Varney, Christine A. and published by . This book was released on 1995 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revising the U.S. Vertical Merger Guidelines by : Steven C. Salop
Download or read book Revising the U.S. Vertical Merger Guidelines written by Steven C. Salop and published by . This book was released on 2015 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mergers and acquisitions are a major component of antitrust law and practice. The U.S. antitrust agencies spend a majority of their time on merger enforcement. The focus of most merger review at the agencies involves horizontal mergers, that is, mergers among firms that compete at the same level of production or distribution.Vertical mergers combine firms at different levels of production or distribution. In the simplest case, a vertical merger joins together a firm that produces an input (and competes in an input market) with a firm that uses that input to produce output (and competes in an output market).Over the years, the agencies have issued Merger Guidelines that outline the type of analysis carried out by the agencies and the agencies' enforcement intentions in light of state of the law. These Guidelines are used by agency staff in evaluating mergers, as well as by outside counsel and the courts.Guidelines for vertical mergers were issued in 1968 and revised in 1984. However, the Vertical Merger Guidelines have not been revised since 1984. Those Guidelines are now woefully out of date. They do not reflect current economic thinking about vertical mergers. Nor do they reflect current agency practice. Nor do they reflect the analytic approach taken in the 2010 Horizontal Merger Guidelines. As a result, practitioners and firms lack the benefits of up-to-date guidance from the U.S. enforcement agencies.
Book Synopsis Five Principles for Vertical Merger Enforcement Policy by : Jonathan B. Baker
Download or read book Five Principles for Vertical Merger Enforcement Policy written by Jonathan B. Baker and published by . This book was released on 2020 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: There seems to be consensus that the Department of Justice's 1984 Vertical Merger Guidelines do not reflect either modern theoretical and empirical economic analysis or current agency enforcement policy. Yet widely divergent views of preferred enforcement policies have been expressed among agency enforcers and commentators. Based on our review of the relevant economic literature and our experience analyzing vertical mergers, we recommend that the enforcement agencies adopt five principles: (i) The agencies should consider and investigate the full range of potential anticompetitive harms when evaluating vertical mergers; (ii) The agencies should decline to presume that vertical mergers benefit competition on balance in the oligopoly markets that typically prompt agency review, nor set a higher evidentiary standard based on such a presumption; (iii) The agencies should evaluate claimed efficiencies resulting from vertical mergers as carefully and critically as they evaluate claimed efficiencies resulting from horizontal mergers, and require the merging parties to show that the efficiencies are verifiable, merger-specific and sufficient to reverse the potential anticompetitive effects; (iv) The agencies should decline to adopt a safe harbor for vertical mergers, even if rebuttable, except perhaps when both firms compete in unconcentrated markets; (v) The agencies should consider adopting rebuttable anticompetitive presumptions that a vertical merger harms competition when certain factual predicates are satisfied. We do not intend these presumptions to describe all the ways by which vertical mergers can harm competition, so the agencies should continue to investigate vertical mergers that raise concerns about input and customer foreclosure, loss of a disruptive or maverick firm, evasion of rate regulation or other threats to competition, even if the specific factual predicates of the presumptions are not satisfied.
Book Synopsis An Economic Analysis of Vertical Merger Enforcement Policy by : Alan A. Fisher
Download or read book An Economic Analysis of Vertical Merger Enforcement Policy written by Alan A. Fisher and published by . This book was released on 1982 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analyzing Vertical Mergers by : Hans Zenger
Download or read book Analyzing Vertical Mergers written by Hans Zenger and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following AT&T/Time Warner and the recent adoption of U.S. Vertical Merger Guidelines, vertical merger policy has again become a subject of intense debate. Some commentators have argued that vertical merger enforcement is too lax and should be invigorated, in particular in the U.S. Others see a greater risk of false positives and argue that the standard for intervention should remain high in such cases. Against this background, this article discusses the economics of assessing vertical mergers with a particular emphasis on recent European case practice.
Book Synopsis Antitrust Analysis of Vertical Mergers by : Koren Wong-Ervin
Download or read book Antitrust Analysis of Vertical Mergers written by Koren Wong-Ervin and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The generally well-accepted belief motivating modern antitrust analysis of vertical mergers -- i.e., acquisitions that combine companies in different levels of the same supply chain -- is that they are generally procompetitive or neutral. That belief is based upon a significant body of empirical evidence. Indeed, as former U.S. Federal Trade Commission (FTC) Bureau of Economics head Francine Lafontaine and Margaret Slade concluded, “[c]onsistent with the large set of efficiency motives for vertical mergers . . . the [empirical] evidence on the consequences of vertical mergers suggests that consumers mostly benefit from mergers that firms undertake voluntarily.” That view of the empirical evidence is consistent with other meta-studies of the empirical evidence by leading industrial organization economists from academia and the U.S. antitrust agencies. Consistent with this evidence, the U.S. antitrust agencies typically have rarely challenged vertical mergers. When they have challenged vertical mergers, they have tended to resolve concerns with narrowly tailored behavioral remedies, such as firewalls to prevent the sharing of rivals' competitively sensitive information, non-discrimination clauses to eliminate incentives to disfavor rivals, and requirements to supply and/or license competitors. This Article is organized as follows: Section I sets forth the empirical evidence supporting the widespread understanding that vertical integration is generally procompetitive or neutral, and responds to the major critiques of these studies. Section I also discusses typical justifications for vertical integration, namely avoiding the costly and risky processes of forming, administering, and enforcing contracts with independent suppliers and customers. Section II lays out the economic approach to antitrust analysis of vertical mergers, briefly addressing calls for the U.S. antitrust agencies to update their 1984 Non-Horizontal Merger Guidelines. Section III discusses remedies. The final section offers closing thoughts focusing on the relative expertise of agencies and courts as compared to merging parties in evaluating the costs and benefits of vertical integration.
Book Synopsis Vertical Merger Enforcement Actions by : Steven C. Salop
Download or read book Vertical Merger Enforcement Actions written by Steven C. Salop and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We have revised our earlier listing of vertical merger enforcement actions by the Department of Justice and Federal Trade Commission since 1994. This revised listing includes 66 vertical matters beginning in 1994 through April 2020. It includes challenges and certain proposed transactions that were abandoned in the face of Agency concerns. This listing can be treated as an Appendix to Steven C. Salop and Daniel P. Culley, Revising the Vertical Merger Guidelines: Policy Issues and an Interim Guide for Practitioners, 4 JOURNAL OF ANTITRUST ENFORCEMENT 1 (2016).
Book Synopsis Oversight of Government Merger Enforcement Policy by : United States. Congress. Senate. Committee on the Judiciary
Download or read book Oversight of Government Merger Enforcement Policy written by United States. Congress. Senate. Committee on the Judiciary and published by . This book was released on 1982 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Vertical Merger Review Soup in the Making by : Krithika Ramesh
Download or read book Vertical Merger Review Soup in the Making written by Krithika Ramesh and published by . This book was released on 2020 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the government's defeat in AT&T/Time Warner, there is a concern that antitrust enforcement of vertical mergers has become weak. The decision exemplifies the difficulties that the government faces to block a merger even in relatively concentrated markets. Commentators have observed that the existing burden of proof requiring the government to prove plausibility of harm to markets even in concentrated markets will eventually dissuade challenges to vertical mergers. As a reaction, commentators have suggested that the burden of proof should be reversed on to the parties. The paper provides a historical insight on the competitively neutral attitude towards vertical mergers and a pithy substance of the recommendations to make vertical merger enforcement in line with horizontal mergers. The objective of the paper is to weave the contours of a vertical merger review regime based on a review of the ideas of the past and present.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author :American Bar Association. Section of Antitrust Law Publisher :American Bar Association ISBN 13 :9781590313732 Total Pages :898 pages Book Rating :4.3/5 (137 download)
Book Synopsis Mergers and Acquisitions by : American Bar Association. Section of Antitrust Law
Download or read book Mergers and Acquisitions written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 2004 with total page 898 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive review of U.S. substantive merger law, this book gives you indispensable guidance you can put into practice today.
Book Synopsis Law and Economics of Vertical Integration and Control by : Roger D. Blair
Download or read book Law and Economics of Vertical Integration and Control written by Roger D. Blair and published by Academic Press. This book was released on 2014-05-10 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law and Economics of Vertical Integration and Control focuses on the processes, methodologies, and approaches involved in the law and economics of vertical integration and control. The publication first elaborates on transaction costs, fixed proportions and contractual alternatives, and variable proportions and contractual alternatives. Discussions focus on sales revenue royalties, ownership integration, output royalties, important product-specific services, successive monopoly, advantages and limitations of internal transfers, and transaction cost determinants. The text then examines vertical integration under uncertainty and vertical integration without contractual alternatives. The book ponders on legal treatment of ownership integration and per se illegal contractual controls. Topics include tying arrangements, public policy assessment, resale price maintenance, vertical integration and the Sherman Act, market foreclosure doctrine, and the 1982 Merger Guidelines. The text also takes a look at contractual controls that are not illegal per se, alternative legal rules, and antitrust policy. The publication is a dependable reference for researchers interested in the law and economics of vertical integration and control.
