Merger Control

A comprehensive analysis of merger outcomes based on all empirical studies, with an assessment of the effectiveness of antitrust policy toward mergers. In recent decades, antitrust investigations and cases targeting mergers—including those involving Google, Ticketmaster, and much of the domestic airline industry—have reshaped industries and changed business practices profoundly. And yet there has been a relative dearth of detailed evaluations of the effects of mergers and the effectiveness of merger policy. In this book, John Kwoka, a noted authority on industrial organization, examines all reliable empirical studies of the effect of specific mergers and develops entirely new information about the policies and remedies of antitrust agencies regarding these mergers. Combined with data on outcomes, this policy information enables analysis of, and creates new insights into, mergers, merger policies, and the effectiveness of remedies in preventing anticompetitive outcomes. After an overview of mergers, merger policy, and a common approach to merger analysis, Kwoka offers a detailed analysis of the studied mergers, relevant policies, and chosen remedies. Kwoka finds, first and foremost, that most of the studied mergers resulted in competitive harm, usually in the form of higher product prices but also with respect to various non-price outcomes. Other important findings include the fact that joint ventures and code sharing arrangements do not result in such harm and that policies intended to remedy mergers—especially conduct remedies—are not generally effective in restraining price increases. The book's uniquely comprehensive analysis advances our understanding of merger decisions and policies, suggests policy improvements for competition agencies and remedies, and points the way to future research.

Economic issues play a pivotal role in competition enforcement. Integrating economic and legal analysis throughout, this work provides expert coverage of both the substantive and procedural law relating to merger control in the EU, considering EU and national case law. The key substantive and procedural issues in the US are also considered.

A new book on merger control, edited by Van Bael & Bellis partners Jean-Francois Bellis and Porter Elliott, was published on 14 September 2011. The 820-page book, which is part of the European Lawyer Reference Series, provides an overview of the jurisdictional, procedural and substantive merger control rules in over 40 major jurisdictions worldwide. Leading firms from across the globe contributed to this book, which is among the most comprehensive of its kind on the market.

Merger control has emerged as a growing area of competition law within the last decade. Merger operations can impact on a number of jurisdictions and may require regulatory notification and approval in more than one. Merger Control Worldwide provides practitioners and policy-makers with a clear point of reference that will prove invaluable when making decisions and delivering sound and accurate advice in merger cases. The chapters set out the details of every jurisdiction where a mechanism for merger control is in place and make use of flowcharts and diagrams to provide a concise and practical account of the relevant law in each jurisdiction.

Merger Control Worldwide is a comprehensive, multi-contributor collection which sets out the details of every jurisdiction where a mechanism for merger control is in place. A concise, practical account is given of the relevant law in each jurisdiction, presented with the aid of flowcharts and diagrams. Merger Control Worldwide aims to provide the legal community, in particular law firms and policy-makers, with a clear point of reference that will prove invaluable when making decisions and delivering sound and accurate advice in merger cases. This, the first supplement to Merger Control Worldwide, provides an update on developments that have occurred recently in the field. It includes a comprehensive appraisal of two new jurisdictions, Korea and Mexico.

The Merger Control Review, edited by Ilene Knable Gotts of Wachtell, Lipton, Rosen & Katz, provides an overview of the process in 38 jurisdictions, as well as a discussion of recent decisions, strategic considerations and likely upcoming developments in Merger Control. Given the ability of most competition agencies with pre-merger notification laws to delay, and even block, a transaction, it is imperative to take each jurisdiction - small or large, new or mature - seriously. It is, therefore, imperative that counsel for such a transaction develops a comprehensive plan prior to, or immediately upon, execution of an agreement concerning where and when to file notification with competition authorities regarding such a transaction. The intended readership of this book comprises both in-house and outside counsel who may be involved in the competition review of cross-border transactions. In our endeavour to keep our readers well informed, we have expanded the jurisdictions covered by this book to include the newer regimes as well with several special chapters covering US, EU and Chinese Merger Control in Media and Pharmaceutical sectors. Contributors include: Susan Ning, King & Wood Mallesons; James Langenfeld, Navigant; Goenenc Guerkaynak, ELIG; Mr Jordan Ellison, Slaughter and May."e;Each country section provides an informative overview of recent and expected enforcement trends... A very useful book!"e; - Jean-Yves Art, Associate General Counsel, Microsoft, Belgium

This book analyzes the specifics of corporate governance of China’s State Owned Enterprises (SOEs) and their assessment under EU merger control, which is reflected in the EU Commission’s screening of the notified economic concentrations. Guided by the going global policy and the Belt and Road Initiative, Chinese SOEs have expanded their global presence considerably. Driven by the need to acquire cutting edge technologies and other industrial policy considerations, Chinese SOEs have engaged in a series of corporate acquisitions in Europe. The main objective of this book is to demonstrate the conceptual and regulatory challenges of applying traditional merger assessment tools in cases involving Chinese SOEs due to the specifics in their corporate governance and the regulatory framework under which they operate in China. The book also explores the connection between the challenges experienced by the merger control regimes in the EU and the recent introduction of the EU foreign direct investment screening framework followed by a proposal concerning foreign subsidies. The book will be a useful guide for academics and researchers in the fields of law, international relations, political science, and political economy; legal practitioners dealing with cross-border mergers and acquisitions; national competition authorities and other public bodies carrying out merger control; policy makers, government officials, and diplomats in China and the EU engaged in bilateral economic relations.