The 2023 U.S. Merger Guidelines

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Publisher :
ISBN 13 : 9781939007339
Total Pages : 0 pages
Book Rating : 4.0/5 (73 download)

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Book Synopsis The 2023 U.S. Merger Guidelines by : Sean P Sullivan

Download or read book The 2023 U.S. Merger Guidelines written by Sean P Sullivan and published by . This book was released on 2024-03-26 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of contents I. A Retrospective and Prospective Analysis of Monopsony Power Under the Merger Guidelines Logan Billman and Kristen Limarzi II. Mergers That Increase Buyer Power and the Function of Presumptions: Two Key Issues in the Revision of the Merger Guidelines Peter C. Carstensen III. What's new in the 2023 Merger Guidelines Joseph Farrell IV. Common Ownership and the Merger Guidelines Merritt B. Fox and Menesh S. Patel V. Awakening Merger Control: The New U.S. Merger Guidelines Eleanor M. Fox VI. Antitrust Ideology and the 2023 U.S. Merger Guidelines Diana L. Moss VII. The Missing Merger Guideline: On Efficiencies Maureen K. Ohlhausen and Taylor M. Owings VIII. Economics in the 2023 Merger Guidelines: Three Areas of Concern Jeremy Sandford, Loren Smith and Nathan Wilson IX. The Evolution (and Devolution) of Market Structure Reasoning Sean P. Sullivan X. Market Delineation under the New Merger Guidelines: Gerrymandering Redux Gregory J. Werden

Federal Trade Commission and United States Department of Justice Commentary on the Horizontal Merger Guidelines

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Publisher : DIANE Publishing
ISBN 13 : 1428953299
Total Pages : 71 pages
Book Rating : 4.4/5 (289 download)

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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:

U.S. Department of Justice Merger Guidelines

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis U.S. Department of Justice Merger Guidelines by : United States. Department of Justice. Antitrust Division

Download or read book U.S. Department of Justice Merger Guidelines written by United States. Department of Justice. Antitrust Division and published by . This book was released on 1982 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Revising the U.S. Vertical Merger Guidelines

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Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (13 download)

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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.

U.S. Department of Justice Merger Guidelines, June 14, 1984

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ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis U.S. Department of Justice Merger Guidelines, June 14, 1984 by : United States. Department of Justice

Download or read book U.S. Department of Justice 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:

Horizontal Merger Guidelines

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Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781544654577
Total Pages : 38 pages
Book Rating : 4.6/5 (545 download)

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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.

The 1992 Horizontal Merger Guidelines

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Publisher : American Bar Association
ISBN 13 : 9780897077644
Total Pages : 72 pages
Book Rating : 4.0/5 (776 download)

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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:

Comments on Draft Merger Guidelines

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Comments on Draft Merger Guidelines by : Gregory J. Werden

Download or read book Comments on Draft Merger Guidelines written by Gregory J. Werden and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: On July 18, 2023, the Agencies responsible for enforcing antitrust law relating to mergers--the U.S. Department of Justice and the Federal Trade Commission--published draft Merger Guidelines (dMGs) for comment. This comment reflects cumulative experience from four decades as an enforcer, from researching and writing approximately 90 articles and book chapters relating to the competitive effects of mergers and their assessment, and from involvement in the preparation of all prior Merger Guidelines issued by the Agencies over the past half-century. Unlike prior Merger Guidelines, the dMGs do not promote the rule of law by articulating self-imposed limits to the exercise of discretion. As compared with prior Guidelines, the dMGs say less about which mergers the Agencies intend to challenge and especially about which mergers they intend not to challenge. The dMGs are more of a legal brief arguing that the Agencies have enormous discretion and that merging firms have an insuperable burden with any defense put forward.The dMGs assert case law support for the policies articulated, but many of the cases do not support the policies for which they are cited, and many of the policies lack any support in law. As a general matter, the law is less receptive than the dMGs suggest to arguments that mergers substantially lessen competition, and more receptive to rebuttal arguments.

1993 Horizontal Merger Guidelines

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ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)

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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:

U.S. Department of Justice Merger Guidelines

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Publisher :
ISBN 13 :
Total Pages : 73 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis U.S. Department of Justice Merger Guidelines by : United States. Department of Justice

Download or read book U.S. Department of Justice Merger Guidelines written by United States. Department of Justice and published by . This book was released on 1984 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Horizontal Merger Guidelines

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ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)

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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:

New Merger Guidelines

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ISBN 13 :
Total Pages : 164 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis New Merger Guidelines by :

Download or read book New Merger Guidelines written by and published by . This book was released on 1982 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:

U.S. Department of Justice Merger Guidelines

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ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis U.S. Department of Justice Merger Guidelines by : United States. Department of Justice

Download or read book U.S. Department of Justice Merger Guidelines written by United States. Department of Justice and published by . This book was released on 1982 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

U.S. Department of Justice Merger Guidelines

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Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (886 download)

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Book Synopsis U.S. Department of Justice Merger Guidelines by : United States. Department of Justice. Antitrust Division

Download or read book U.S. Department of Justice Merger Guidelines written by United States. Department of Justice. Antitrust Division and published by . This book was released on 1984 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:

U.S. Vertical Merger Guidelines

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis U.S. Vertical Merger Guidelines by : Koren Wong-Ervin

Download or read book U.S. Vertical Merger Guidelines written by Koren Wong-Ervin and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article offers the following recommendations, focusing on #3 and 6:1. Specifics on how the Agencies will implement the principles set forth in the Guidelines. The Guidelines state throughout that the Agencies “may consider” certain factors; this language should be revised to say “will” or “usually will” consider. 2. An explicit recognition that empirical evidence indicates that vertical mergers are generally procompetitive or benign and, as the Agencies have previously stated, “vertical mergers merit a stronger presumption of being efficient than do horizontal mergers.”3. A clear statement that the government has the burden on EDM given that such calculations are part of the math of the raising rivals costs (RRC) argument and the two cannot be analyzed in isolation before evaluating their net effect. In other words, EDM can prevent RRC, not just net it out. The prima facie case should not, however, extend to netting the two out, but rather to showing that the merger is likely to result in RRC.4. An explicit statement that the relevant inquiry for RRC is the effect on downstream competition and that raising the cost of an upstream input with no downstream effects does not warrant intervention. While examples in the Guidelines seem to suggest that the Agencies will follow this principle, an explicit statement would be helpful. 5. Explicitly requiring both the incentive and the ability to engage in anticompetitive conduct given that, without the ability there can be no harm, and lack of incentives is a strong indication that there are legitimate business reasons for the deal. 6. A recognition of the coordination problem presented by vertical dealing and that achieving EDM (and other efficiencies) through contracting presents challenges given the costly process of forming, administering, and enforcing contracts with independent suppliers.7. Replacing the 20% market-share language with a clear safe harbor and increasing the relevant market share threshold (but not necessarily the “related product” threshold) from 20% to at least 30%.

Special Issue: the U.S. Vertical Merger Guidelines

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)

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Book Synopsis Special Issue: the U.S. Vertical Merger Guidelines by : Roger D. Blair

Download or read book Special Issue: the U.S. Vertical Merger Guidelines written by Roger D. Blair and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Cost-Benefit Analysis Without the Benefits Or the Analysis

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (139 download)

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Book Synopsis Cost-Benefit Analysis Without the Benefits Or the Analysis by : Luke M. Froeb

Download or read book Cost-Benefit Analysis Without the Benefits Or the Analysis written by Luke M. Froeb and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous iterations of the DOJ/FTC Merger Guidelines have articulated a clear, rigorous, and transparent methodology for balancing the pro-competitive benefits of mergers against their anticompetitive costs. By describing agency practice, guidelines facilitate compliance, ensure consistent and reasonable enforcement, increase public understanding and confidence, and promote international cooperation.But the 2023 Draft Merger Guidelines do not. They go to great lengths to articulate the potential anticompetitive costs of mergers but with no way to gauge “substantiality.” Most significantly, they ignore potential benefits, which eliminates the need for balancing. In other words, the Draft Guidelines provide very little guidance about current practice which adds risk, which deters mergers, which seems to be the point. We offer specific recommendations for Horizontal, Vertical, and Tech Mergers that do a better job differentiating procompetitive mergers from anticompetitive ones.