1st Edition

Mergers and Acquisitions Volume III

Edited By Jonathan Galloway Copyright 2012

    Mergers and acquisitions occur for many legitimate reasons and should be encouraged as a matter of general policy, yet the resulting increase in the level of market concentration and market strength can lead to concerns that certain ’deals’ may irreparably damage the market structure and create anti-competitive effects. This volume explores the competition concerns arising out of mergers and acquisitions, the reasons for merger control and the fundamental options that face all jurisdictions intent on implementing an effective merger control regime. The volume acts as a guide through the development of merger control law, policy and scholarly thought and includes commentary on each of the key stages of any effective merger control regime. The articles consider the objectives of merger control and the broader political landscape within which mergers take place; the procedural issues in merger control, including jurisdictional matters and due process; the different substantive legal standards incorporated into merger control; the relevant theories of harm and the appropriate treatment of efficiencies; and the use of remedies in merger control. The chosen articles mainly, but not exclusively, focus on the US and EU, and several adopt a cross-disciplinary approach encompassing law, political science and economics.

    Contents: Introduction; Part I The Objectives of Merger Control: The political economy of merger regulation, Aditi Bagchi; Discretion and politicization in EU competition policy: the case of merger control, Lee McGowan and Michelle Cini; Afterword - did the Canadian Parliament really permit mergers that exploit Canadian consumers so the world can be more efficient?, Stephen F. Ross. Part II Procedural Issues in Merger Review: Extraterritoriality, Conflict and Convergence: Transatlantic turbulence: the Boeing-McDonnell Douglas merger and international competition policy, William E. Kovacic; A role for the WTO in international merger control, Andre Fiebig; Merger control in the European Union and the United States: just the facts, Mats A. Bergman, Malcolm B. Coate, Maria Jakobsson and Shawn W. Ulrick; Notification: Reflections on 20 years of merger enforcement under the Hart-Scott-Rodino Act, William J. Baer; Due Process and Standard of Proof: Good governance in European merger control: due process and checks and balances under review, Herwig C.H. Hofmann; Standard of proof in EC merger proceedings: a common law perspective, David Bailey. Part III Substantive Review: Standard of Review: A new substantive test for EU merger control, Kyriakos Fountoukakos and Stephen Ryan; Goodbye to 'the dominance test'? Substantive appraisal under the new UK and EC merger regimes, Rhodri Thompson; Theories of Harm: Conglomerate mergers and range effects: it's a long way from Chicago to Brussels, William J. Kolasky; A legal and economic consensus? The theory and practice of coordinated effects in EC merger control, Simon Bishop and Andrea Lofaro; Efficiency Considerations: Merger control policy: how to give meaningful consideration to efficiency claims?, Damien Gerard; Demand-side efficiencies in merger control, David S. Evans and A. Jorge Padilla. Part IV Remedies: Behavioural remedies in EC merger control - scope and limitations, Ariel Ezrachi; UK merger remedies under scrutiny, Michael Harker; Name index.


    Jonathan Galloway