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Revising The Horizontal Merger Guidelines
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Book Synopsis Revising the Horizontal Merger Guidelines by : Dennis W. Carlton
Download or read book Revising the Horizontal Merger Guidelines written by Dennis W. Carlton and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The U.S. Department of Justice and the Federal Trade Commission are currently in the process of revising their Horizontal Merger Guidelines. I explain that if a revision is to occur, then there are certain parts of the Guidelines that are most in need of revision, including the sections on unilateral and coordinated effects, committed and uncommitted entry, numerical concentration thresholds for safe harbors, and fixed costs. I also explain what should not become part of any new Guidelines, such as replacing the market definition/market concentration starting point with a competitive effects framework such as “upward pricing pressure.” The proposed Guidelines were published in April 2010. I present my reactions to the proposed Guidelines and discuss several caveats that courts, foreign antitrust agencies, and the business community should be aware of as they try to interpret what the proposed Guidelines suggest about appropriate antitrust policy.
Book Synopsis Revising the Horizontal Merger Guidelines by : Richard Gilbert
Download or read book Revising the Horizontal Merger Guidelines written by Richard Gilbert and published by . This book was released on 2014 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently, the U.S. Department of Justice and Federal Trade Commission have embarked on an effort to revise and update the U.S. Horizontal Merger Guidelines. here is substantial overlap between the U.S. and E.U. Guidelines, which makes a proposal for U.S. revisions immediately applicable to the E.U. and elsewhere. The U.S. Merger Guidelines can be revised in light of the learning of economists and lawyers in the past two decades to emphasize the importance of competitive effects analysis in merger evaluation and the forces that drive innovation. The Guidelines should also note that once a competitive effects analysis has been completed, it is possible to “back out” a relevant market (or markets) that is consistent with that competitive effects analysis.
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.
Author :American Bar Association. Section of Antitrust Law Publisher :American Bar Association ISBN 13 :9780897077644 Total Pages :72 pages Book Rating :4.0/5 (776 download)
Book Synopsis The 1992 Horizontal Merger Guidelines by : American Bar Association. Section of Antitrust Law
Download or read book The 1992 Horizontal Merger Guidelines written by American Bar Association. Section of Antitrust Law and published by American Bar Association. This book was released on 1992 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Merger Guidelines by : United States. Federal Trade Commission
Download or read book Merger Guidelines written by United States. Federal Trade Commission and published by . This book was released on 1997 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Three Key Principles for Revising the Horizontal Merger Guidelines by : Timothy J. Muris
Download or read book Three Key Principles for Revising the Horizontal Merger Guidelines written by Timothy J. Muris and published by . This book was released on 2012 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revising the Merger Guidelines by : Gregory K. Leonard
Download or read book Revising the Merger Guidelines written by Gregory K. Leonard and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides suggestions on revising the DOJ/FTC Horizontal Merger Guidelines.
Book Synopsis Federal Trade Commission and United States Department of Justice Commentary on the Horizontal Merger Guidelines by :
Download or read book Federal Trade Commission and United States Department of Justice Commentary on the Horizontal Merger Guidelines written by and published by DIANE Publishing. This book was released on with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Department of Justice Statement Accompanying Release of Revised Merger Guidelines, June 14, 1984 by : United States. Department of Justice
Download or read book U.S. Department of Justice Statement Accompanying Release of Revised Merger Guidelines, June 14, 1984 written by United States. Department of Justice and published by . This book was released on 1984 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Revising the U.S. DOJ-FTC Horizontal Merger Guidelines - Accounting for Algorithmic Coordination by : Michal Gal
Download or read book Revising the U.S. DOJ-FTC Horizontal Merger Guidelines - Accounting for Algorithmic Coordination written by Michal Gal and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Comment is written in response to DOJ-FTC Request for Information on Merger Enforcement. We explain that the use of pricing algorithms based on artificial intelligence methodologies (hereinafter: "pricing algorithms"), by one or both parties, should be taken into account in the merger analysis. This is due to the fact that the use of such algorithms might substantially increase the possibility of explicit or tacit collusive behavior. We then suggest several ways in which merger review and the Horizontal Merger Guidelines can incorporate such effects.
Book Synopsis Horizontal Merger Guidelines by : Peter Carstensen
Download or read book Horizontal Merger Guidelines written by Peter Carstensen and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Antitrust Division of the Department of Justice and the Federal Trade Commission have commenced a process of reviewing the Merger Guidelines that were last subject of a comprehensive revision in 1993. The agencies are holding a series of workshops and have solicited comments on a number of questions that they have formulated. The questions and the workshops, however, fail to take account of a major development in the assessment of mergers: their impact on the buying side of the market. Empirical data show that buying side effects can be quite substantial; yet the Guidelines devote only two sentences to discussing the analysis of this topic. These comments present a review of the central issues that ought to be included in comprehensive merger guidelines concerning buyer power: appropriate definition of the buying side product and geographic dimensions of the relevant markets, the likely competitive effects including the potential for such effects in various levels of market concentration, and the resulting thresholds above which more serious evaluation of mergers creating increased buyer power ought to be investigated. The basic point of these comments is that the revised Merger Guidelines should directly and clearly address the issue of buyer power resulting from mergers and provide appropriate standards for the evaluation of such effects.
Book Synopsis Scale Economies and Synergies in Horizontal Merger Analysis by : Joseph Farrell
Download or read book Scale Economies and Synergies in Horizontal Merger Analysis written by Joseph Farrell and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Three years ago, the Antitrust Division and the Federal Trade Commission revised their Horizontal Merger Guidelines to articulate in greater detail how they would treat claims of efficiencies associated with horizontal mergers: claims that are frequently made, as for instance in the recently proposed merger between Heinz and Beech-Nut in the market for baby food. While these revisions to the Guidelines have a solid economic basis, they leave open many questions, both in theory and in practice. In this essay, we evaluate some aspects of the treatment of efficiencies, based on three years of enforcement experience under the revised Guidelines, including several litigated mergers, and based on economic principles drawn from oligopoly theory regarding cost savings, competition, and consumer welfare.
Book Synopsis Horizontal Merger Guidelines by : United States. Department of Justice
Download or read book Horizontal Merger Guidelines written by United States. Department of Justice and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Market Definition and the Merger Guidelines by : Louis Kaplow
Download or read book Market Definition and the Merger Guidelines written by Louis Kaplow and published by . This book was released on 2014 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recently issued revision of the U.S. Horizontal Merger Guidelines, like its predecessors and mirrored by similar guidelines throughout the world, devotes substantial attention to the market definition process and the implications of market shares in the market that is selected. Nevertheless, some controversy concerning the revised Guidelines questions their increased openness toward more direct, economically based methods of predicting the competitive effects of mergers. This article suggests that, as a matter of economic logic, the Guidelines revision can only be criticized for its timidity. Indeed, economic principles unambiguously favor elimination of the market definition process altogether. Accordingly, the 2010 revision is best viewed as a moderate, incremental, pragmatic step toward rationality, its caution being plausible only because of legal systems' resistance to sharp change.
Author :U. S. Department U.S. Department of Justice Publisher :Createspace Independent Publishing Platform ISBN 13 :9781544654577 Total Pages :38 pages Book Rating :4.6/5 (545 download)
Book Synopsis Horizontal Merger Guidelines by : U. S. Department U.S. Department of Justice
Download or read book Horizontal Merger Guidelines written by U. S. Department U.S. Department of Justice and published by Createspace Independent Publishing Platform. This book was released on 2017-03-13 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: These Guidelines outline the principal analytical techniques, practices, and the enforcement policy of the Department of Justice and the Federal Trade Commission (the "Agencies") with respect to mergers and acquisitions involving actual or potential competitors ("horizontal mergers") under the federal antitrust laws. The relevant statutory provisions include Section 7 of the Clayton Act, 15 U.S.C. § 18, Sections 1 and 2 of the Sherman Act, 15 U.S.C. §§ 1, 2, and Section 5 of the Federal Trade Commission Act, 15 U.S.C. § 45. Most particularly, Section 7 of the Clayton Act prohibits mergers if "in any line of commerce or in any activity affecting commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly." The Agencies seek to identify and challenge competitively harmful mergers while avoiding unnecessary interference with mergers that are either competitively beneficial or neutral. Most merger analysis is necessarily predictive, requiring an assessment of what will likely happen if a merger proceeds as compared to what will likely happen if it does not. Given this inherent need for prediction, these Guidelines reflect the congressional intent that merger enforcement should interdict competitive problems in their incipiency and that certainty about anticompetitive effect is seldom possible and not required for a merger to be illegal.
Book Synopsis 1993 Horizontal Merger Guidelines by : National Association of Attorneys General
Download or read book 1993 Horizontal Merger Guidelines written by National Association of Attorneys General and published by . This book was released on 1993 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Updating the Merger Guidelines by : Steven C. Salop
Download or read book Updating the Merger Guidelines written by Steven C. Salop and published by . This book was released on 2016 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: These comments (originally submitted to the DOJ and FTC in November 2009) make a number of comments relevant to revising the Merger Guidelines. The comments focus on the use of the GUPPI (gross upward pricing pressure index) in unilateral effects analysis. They also comment on the deterrence and incipiency standard, exclusionary effects of horizontal mergers and market definition when there are multi-product firms or pre-merger coordination, among other issues.
