Comparing Merger Policies In The European Union And The United States PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Comparing Merger Policies In The European Union And The United States PDF full book. Access full book title Comparing Merger Policies In The European Union And The United States.
Author | : Mats Bergman |
Publisher | : |
Total Pages | : 0 |
Release | : 2011 |
Genre | : |
ISBN | : |
Download Comparing Merger Policies in the European Union and the United States Book in PDF, ePub and Kindle
We collect a sample of EU and US merger investigations, estimate models of the regulatory decisions, and use the models to compare merger policies. Our approach allows us to decompose observed differences into policy effects and case-mix effects. Focusing on dominance mergers, we find that the EU is tougher than the US on average, in particular for mergers resulting in moderate market shares. However, the US appears to be more aggressive for coordinated interaction and nondominance unilateral effects cases. Overall, our analysis detects substantial differences in policies, but it does not classify one regime as being more aggressive than the other.
Author | : Mats Bergman |
Publisher | : |
Total Pages | : 0 |
Release | : 2010 |
Genre | : |
ISBN | : |
Download Merger Control in the European Union and the United States Book in PDF, ePub and Kindle
Using a combination of public and internal information, this paper compares and contrasts EU and US merger policies. Common economics seems to lead both authorities to consider remarkably comparable portfolios of mergers once the nominal differences in the regimes (US reviews more cases) are addressed. Vertical mergers account for less than ten percent and potential competition matters for around five percent of all mergers in both jurisdictions, while purely conglomerate mergers are extremely rare or non-existent. The share of collusion investigations fall over time in both jurisdictions. However, the US relies on collusion theory more than three times as often as the EU, where 85 percent of the horizontal cases concern dominance. Across both regimes, roughly one eighth of all recent horizontal mergers have been analyzed as non-dominance unilateral-effects cases. Only minor differences in the average probability of challenge are observed when controlling for market share. We also find that the EU is more prone to accept (or require) weak remedies and much less likely to consider efficiencies. The 2004 EU reforms seem to be leading towards at least some convergence on enforcement policy.
Author | : Catalin Stefan Rusu |
Publisher | : Kluwer Law International B.V. |
Total Pages | : 306 |
Release | : 2010-01-01 |
Genre | : Business & Economics |
ISBN | : 9041132597 |
Download European Merger Control Book in PDF, ePub and Kindle
Twenty years of experience have inevitably brought to light challenges and tensions in the enforcement of the European merger control system. Some of these challenges have been faced, some have been solved and some remain latent. This very valuable study starts from the proposition that the EU has never fully acknowledged those fundamental challenges which relate to the rationale behind merger control in Europe. The author shows how the Commission's focus on adapting the rules of merger control to the economic realities of the future business environment, although designed with a view to facilitating European integration, has compromised attainment of legal certainty, transparency and welfare enhancement. In its detailed evaluation of the 'future market structure prediction process' embedded in European merger control policy, this book approaches two rock-bottom, far-reaching questions: In what ways does merger control promote consumer and societal welfare? Is the Commission able to correctly predict the outcome of any given concentration transaction? These considerations take the reader through a deep and searching analysis that calls into question the very credibility and transparency of the system, leading to alternatives which promise a new clarity of purpose and procedure. The author describes how these recommendations can be integrated into the functioning framework of the European project. Taken fully into account along the way is a wide spectrum of relevant source material, including the following: applicable articles and chapters of the founding and subsequent European Treaties; secondary European legislation concerning competition and merger activity; domestic competition laws; guidelines, notices and action plans; competition law reviews, statements of intentions; draft legislative attempts; speeches on the enactment and purpose of merger control; Member States' views concerning European merger control as expressed during Council negotiations; officially available concentration-related statistics; and a wide-ranging literature review covering both the legal and economic sides of merger control. Throughout, the author substantiates theoretical assertions with case law examples, clearly exposing doctrines arising from such cases as Continental Can, Phillip Morris/Rothmans and the Airtours, Schneider and Tetra Laval trilogy. A unique feature of the analysis draws on the author's personal experience while working for a Brussels competition law firm. This book is a remarkable compound of academic guide to the roots and rationales of the European Merger Control System, practical guide to the day-to-day intricacies of merger control enforcement, and 'raw' guide for decision makers and merger control law enforcers. It will be of immense value in all three contexts.
Author | : Mats Bergman |
Publisher | : |
Total Pages | : 0 |
Release | : 2010 |
Genre | : |
ISBN | : |
Download Atlantic Divide Or Gulf Stream Convergence Book in PDF, ePub and Kindle
We collect a sample of EU and US in-depth merger investigation, estimate models of the regulatory decisions and use the models to compare merger policies in the two jurisdictions. The approach used allows us to decompose observed differences between merger decisions into regime effects and case-mix effects. Focusing on dominant-firm mergers, we find that EU is tougher than the US on average and on mergers resulting in low market shares. We also find that US policy is more affected than EU policy by a range of market considerations.
Author | : François Lévêque |
Publisher | : Edward Elgar Publishing |
Total Pages | : 240 |
Release | : 2003-01-01 |
Genre | : Law |
ISBN | : 9781781957646 |
Download Merger Remedies in American and European Union Competition Law Book in PDF, ePub and Kindle
This impressive volume presents a detailed comparative analysis of merger remedies in the EU and US, motivated by the fact that a growing number of mergers are being scrutinized and reviewed under both jurisdictions. Merger remedies on either side of the Atlantic play an increasingly important role in the implementation of public policy with regard to the economic concentration of industry. The book provides an understanding of merger remedies in general, and of procedural and substantive differences in the approach of the EU and the US. The editors have gathered together leading European and American practitioners and scholars to comprehensively discuss this issue. They aim to help policymakers decide if, and how, current practices can be improved, and to help firms and their counsel better prepare cases and predict outcomes.
Author | : Stephen Davies |
Publisher | : Edward Elgar Publishing |
Total Pages | : 283 |
Release | : 2008-01-01 |
Genre | : Business & Economics |
ISBN | : 1847209971 |
Download Mergers and Merger Remedies in the EU Book in PDF, ePub and Kindle
. . . for practitioners considering whether to use economists to evaluate merger proposals, this book provides a relevant insight into the types of information that would be necessary to develop even a basic simulation model, and some guidance as to circumstances where such technique may be appropriate. Vanessa Holliday, Competition and Consumer Law Journal . . . highly recommended for practitioners as well as academics interested in merger remedies. Arndt Christiansen, European Competition Law Review Headlines are made when the European Commission prohibits a merger, but this is actually very rare. Clearances subject to conditions (i.e. remedies) happen ten times as frequently, but have received far less attention in academic literature. This book provides an empirical assessment of the effectiveness of merger remedies, employing a novel simulation methodology based on formal economic theory. The authors were given unprecedented access to data available to case handlers, concerning a range of remedied mergers covering 21 markets. Using this they have adapted simple simulation techniques to appraise the competitive effects of these mergers and the impact of potential and actual remedies. Ex-ante results are then compared with ex-post impact to examine the actual effectiveness of remedies. The results provide a critique of both simple market share analysis and remedy design. This research thus contributes to economics research and practical merger policy. This rare empirical assessment of the efficacy of remedies in competition policy will be of great significance and interest to policy makers, as well as to economists, lawyers, practitioners and students in competition law.
Author | : Ann Barry |
Publisher | : |
Total Pages | : 158 |
Release | : 1994 |
Genre | : |
ISBN | : |
Download Merger Policy in the European Community and the United States Book in PDF, ePub and Kindle
Author | : Nicolas Lafont |
Publisher | : |
Total Pages | : 104 |
Release | : 2002 |
Genre | : Antitrust law |
ISBN | : |
Download Merger Control in the United States and the European Union Book in PDF, ePub and Kindle
Author | : Ilene Knable Gotts |
Publisher | : |
Total Pages | : 0 |
Release | : |
Genre | : Conglomerate corporations |
ISBN | : 9781804490952 |
Download The Merger Control Review Book in PDF, ePub and Kindle
Author | : Qian Li |
Publisher | : |
Total Pages | : 0 |
Release | : 2023 |
Genre | : |
ISBN | : 9783848775880 |
Download Public Interest Considerations in Merger Control Book in PDF, ePub and Kindle