Concern about coordinated effects long has been central to U.S. merger policy. The first sets of Horizontal Merger Guidelines (“Guidelines”), issued by the Department of Justice in 1982 and 1984, focused their attention squarely on coordinated effects.1 The language of the 1984 Guidelines articulated the “unifying theme . . . that mergers should not be permitted to create or enhance ‘market pow...

We construct merger trees from the largest database of dark matter haloes to date provided by the Millennium simulation to quantify the merger rates of haloes over a broad range of descendant halo mass (10 . M0 . 10 15M⊙), progenitor mass ratio (10 . ξ 6 1), and redshift (0 6 z . 6). We find the mean merger rate per halo, B/n, to have very simple dependence on M0, ξ, and z, and propose a univer...

The combination of the retraction of TRAP and the merger of LOT and THOUGHT can be found in a number of English dialects. Gordon (2005) has suggested that the merger of LOT and THOUGHT creates a margin of security in which TRAP may retract, and that TRAP-retraction might therefore be expected to be found anywhere the low-back vowel merger exists. This work presents data showing the combination ...

We derive analytic merger rates for dark-matter haloes within the framework of the Extended Press-Schechter (EPS) formalism. These rates become self-consistent within EPS once we realize that the typical merger in the limit of a small time-step involves more than two progenitors, contrary to the assumption of binary mergers adopted in earlier studies. We present a general method for computing m...

Understanding the role of mergers in galaxy formation is one of the most outstanding problems in extragalactic astronomy. While we now have an idea for how the merger fraction evolves at redshifts z < 3, converting this merger fraction into merger rates, and therefore how many mergers an average galaxy undergoes during its history, is still uncertain. The main reason for this is that the inferr...

GRB 080503 is a short gamma-ray burst (GRB) detected by Swift and has been classified as a GRB originating from a compact star merger. The soft extended emission and the simultaneous late re-brightening in both the X-ray and optical afterglow light curves raise interesting questions regarding its physical origin. We show that the broadband data of GRB 080503 can be well explained within the fra...

They say fools of venture where angels fear to tread . Up until now , there's been no precedent for a successful technology merger of the size of the HP and Compaq merger. The most quoted failure is the merger of computer vendors Burroughs and Sperry. In 1986 these two merged their dissimilar operations and very different corporate cultures. Unisys, the resulting company, briefly held second pl...

The relationship between the target and acquiring banks in a bank merger is examined to determine if any factors contribute to the likelihood of a bank merger. Logistic models are used in an attempt to model the merger decision of both the target and the acquirer banks. I find some evidence larger banks holding riskier portfolios are more likely to acquire other banks. ** The author would like ...

Mergers are predicted in all cosmological models involving Cold Dark Matter to be one of the dominant channels whereby galaxies accrete mass. In this paper we present a detailed analysis of predicted galaxy-galaxy merger fractions and rates in the Millennium simulation and compare these with the most up to date observations of the same quantities up to z ∼ 3. We carry out our analysis by consid...

8 · A N T I T R U S T JONATHAN BAKER: I am delighted that ANTITRUST magazine has assembled such a terrific group of experts to discuss unilateral effects in merger analysis. I would like to start out with Mike Vita and ask whether unilateral effects theories, such as the ones in the 1992 Horizontal Merger Guidelines, are routinely employed these days in government merger investigations and whic...