Merger Analysis, Industrial Organization Theory, and Merger Guidelines

1984 Merger Guidelines

1982 Merger Guidelines

1 be substantially to lessen competition, or to tend to create a monopoly." 15 U.S.C.A. § 1 (1981). Mergers subject to section 1 are prohibited if they constitute a 2 “contract, combination... or conspiracy in restraint of trade." They replace a set of Guidelines issued by the Department in 1968, and are subject to 3 further revision in light of subsequent judicial decisions or economic studies...

Revising the Horizontal Merger Guidelines

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 fo...

Supermassive Black Hole Merger Rates: Uncertainties from Halo Merger Theory

The merger of two supermassive black holes is expected to produce a gravitational-wave signal detectable by the satellite LISA. The rate of supermassive-black-hole mergers is intimately connected to the halo merger rate, and the extended Press–Schechter formalism is often employed when calculating the rate at which these events will be observed by LISA. This merger theory is flawed and provides...

Merger Failure and Merger Profitability *

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