The Economic Assessment of Mergers Under European Competition Law PDF Download
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Author: William Blumenthal Publisher: American Bar Association ISBN: 9780897072403 Category : Law Languages : en Pages : 356
Book Description
Number 14 in the Antitrust law Section monograph series, this work summarizes the state of the law in every area affecting semihorizontal, conglomerate and vertical mergers, and was prepared as a companion to Monograph 12.
Author: Duarte Brito Publisher: Kluwer Law International B.V. ISBN: 9041124519 Category : Business & Economics Languages : en Pages : 248
Book Description
Drawing on twenty years of merger analysis literature, this single source offers practical solutions to a wide range of problems faced by specialists working in the field of mergers and acquisitions. The authors take an industrial organization approach in which effects on profits, on consumer surplus and on overall welfare are of greatest relevance. The focus is primarily on horizontal mergers, although vertical and conglomerate mergers are addressed when producers of complementary goods are involved. Among the issues and elements examined, the authors provide answers to the following: How does a merger affect the insider firm's profitabifity? Why may outsiders stock market value increase or decrease following a merger? What are the expected welfare effects of a merger? What sort of arguments can be used for merger defense? How do economists model the firm's merging decision? How can the authorities simulate the price effects of a horizontal merger? Is post-merger entry likely to compensate the effects of a merger? The discussion proceeds from an analysis of the simplest exercise of market power to evermore complex merger environments. In their detailed coverage of policy evaluation of proposed acquisitions, the authors provide a merger simulation toolkit which can be applied to important recent judicial decisions in the field. This book will be of great value not only to academics in microeconomics and industrial organization, but also to lawyers and officials seeking expert practical guidance in the business or administrative responsibilities surrounding mergers and acquisitions.
Author: Berardino Cesi Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
We show that in a three-firm infinitely repeated Cournot game, there exists a"stick and carrot"strategy equilibrium in which an exogenous bilateral horizontal merger is profitable and the incentive to remain out of the merger disappears. In this sub-game perfect equilibrium, the merged entity produces the duopoly quantity and the outsider limits its production to half the duopoly quantity. Our stick and carrot strategy entails that the merged entity threatens to produce twice the triopoly quantity for two periods if the outsider does not produce half the duopoly quantity. In this equilibrium, the aggregate price remains high enough to make the merger profitable for the insiders. Also, the quantity produced by the outsider is sufficiently low to eliminate the difference between the profit of the outsider and the merging firm.
Author: Naomi R. Lamoreaux Publisher: Cambridge University Press ISBN: 9780521357654 Category : Business & Economics Languages : en Pages : 224
Book Description
Between 1895 and 1904 a great wave of mergers swept through the manufacturing sector of the U.S. economy. In The Great Merger Movement in American Business, Lamoreaux explores the causes of the mergers, concluding that there was nothing natural or inevitable about turn-of-the-century combinations.
Author: Daniel Gore
Author: Daniel Gore
Author: William Blumenthal
Author: George A. Hay
Author: Duarte Brito
Author: Steffen Ziss
Author: Berardino Cesi
Author: United States. Department of Justice
Author: Gregory Werden
Author: Gregory Werden
Author: Naomi R. Lamoreaux