Journal Article

ADDING DIMENSION TO MERGER ANALYSIS

Mark A. Jamison and Janice A. Hauge

in Journal of Competition Law & Economics

Volume 12, issue 1, pages 99-112
Published in print March 2016 | ISSN: 1744-6414
Published online March 2016 | e-ISSN: 1744-6422 | DOI: https://dx.doi.org/10.1093/joclec/nhv039
ADDING DIMENSION TO MERGER ANALYSIS

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  • Antitrust Issues and Policies
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Traditional merger analysis in the U.S. focuses on a single dimension: namely, the combination of two or more firms that supply substitutable products. Thus, merger analysis misses the fact that there are various types of mergers—for example, hostile takeovers, friendly acquisitions, and mergers of equals—and that the differences among these types affect outcomes. Similarly absent is explicit consideration of merger-created synergies for future markets. We illustrate the effects of painting all mergers with the same brush on the propensity for firms to form beneficial mergers and we suggest means of changing merger analysis to reflect diversity in the natures of mergers and their future markets.

Keywords: K21; L13; L41

Journal Article.  5777 words.  Illustrated.

Subjects: Antitrust Issues and Policies ; Market Structure, Firm Strategy, and Market Performance

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