So-called “horizontal mergers” of firms whose products are direct substitutes at the point of sale have garnered significant attention from researchers and regulators alike. We consider the effect of mergers between firms whose products are not viewed as direct substitutes for the same good or service, but are bundled by a common intermediary. Focusing on the case of hospital mergers across dis...

Globalization, internationalization, integration, deregulation, as well as technological advances have provided the impetus for mergers of stock exchanges to facilitate cross-border listings and trading. Cross-border mergers trigger a series of different issues to be analyzed. The focus of our analysis will be on regulatory and competition law issues arising from cross-border stock exchange mer...

We use galaxy and dark halo data from the public database for the Millennium Simulation to study the growth of galaxies in the De Lucia et al. (2006) model for galaxy formation. Previous work has shown this model to reproduce many aspects of the systematic properties and the clustering of real galaxies, both in the nearby universe and at high redshift. It assumes the stellar masses of galaxies ...

We present a morphological study of the galaxy population of the luminous X-ray cluster MS 1054−03 at z = 0.83. The sample consists of 81 spectroscopically confirmed cluster members in a 3×2 h−1 50 Mpc area imaged in F606W and F814W with WFPC2. We find thirteen ongoing mergers in MS 1054−03, comprising 17 % of the L ∼ > L∗ cluster population. Most of these mergers will likely evolve into lumino...

Excerpt] In the last two decades of the twentieth century the lodging industry experienced an unprecedented level of consolidation. In particular, mergers and acquisitions among lodging companies took place at record levels in the late 1990s. From 1982 through 2000 the industry saw a total of 57 acquisitions with an aggregate market value in the target companies’ stocks of over $53 billion doll...

The Danish hospital sector faces a major rebuilding program to centralize activity in fewer and larger hospitals. We aim to conduct an efficiency analysis of hospitals and to estimate the potential cost savings from the planned hospital mergers. We use Data Envelopment Analysis (DEA) to estimate a cost frontier. Based on this analysis, we calculate an efficiency score for each hospital and esti...

This paper is the second in a series exploring the properties of 51 optically selected, single-nuclei merger remnants. Spectroscopic data have been obtained for a subsample of 38mergers and combinedwith previously obtained infrared photometry to test whether mergers exhibit the same correlations as elliptical galaxies among parameters such as stellar luminosity and distribution, central stellar...

Joining together or merging is postulated to be a major way in which convective clouds become larger, enhancing their transports and impacts upon their environment. Cumulus shower merger is defined in terms of echoes from a calibrated digitized 10-cm radar reviewing a 0.9 x 105 km2 area in south Florida, U. S. A., which encompasses a 1.3 x 1~ km2 experimental area for randomized seeding. A deta...

Gravitational interactions and mergers are shaping and reshaping galaxies throughout the observable universe. While observations of interacting galaxies at low redshifts yield detailed information about the processes at work, observations at high redshifts suggest that interactions and mergers were much more frequent in the past. Major mergers of nearby disk galaxies form remnants that share ma...

The article examines the European Commission’s use of its legal powers over mergers. It discusses and tests two views. One is that the ‘neo-liberal’ Commission has ended previous industrial policies of aiding ‘national champion’ firms to grow through mergers and instead pursues a ‘merger constraining’ policy of vigorously using its legal powers to block mergers. The other is that the Commission...