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.
Volume 23 of this annual series explores a range of issues, from cross-border mergers and acquisitions, MNE strategies and multi-business firms to outsourcing and strategic choices.
Volume 22 explores a range of issues relevant to a post-pandemic world- the cost-of-living crisis, energy insecurity, war in Ukraine and rising inflation are pushing many countries into recession, ...adversely affecting the global economy and leading to downsizing, restructurings and inevitably an increase in mergers and acquisitions.
Due Diligence Howson, Peter
2003, 20170705, 2017-05-04, 20030101
eBook
How can you be sure you are buying the company you think you are? Are you sure it is as good as the seller says? How can you be certain unexpected costs and obligations will not suddenly appear once ...you are the owner and responsible for them? How best can you arm yourself for the negotiations? Have you worked out precisely what you are going to do with it once it is yours? How do you set the priorities for change to recoup the premium you have paid for it?
The answer to all these questions, and many more, lies with effective due diligence.
Due diligence is one of the most important but least well understood aspects of the acquisition process. It is not, as many believe, a chore to be left to the accountants and lawyers. To get the best from it. due diligence has to be properly planned and professionally managed.
This book is a comprehensive manual on getting due diligence right. It is a uniquely comprehensive guide, covering all aspects of the process from financial, legal and commercial due diligence right through to environmental and intellectual property due diligence. There are also useful chapters on working with advisers and managing due diligence projects. It also includes a number of checklists to help ensure that the right questions are asked.
This book arises out of the second Anglo-German Law Conference in Oxford,held under the auspices of the Oxford Law Faculty and with the support of two leading law firms. The law regarding takeovers ...has recently taken on a new dimension in Europe, and nowhere more so than in England and Germany. These two jurisdictions have had to consider a number of issues, including the ramifications of the Vodafone/Mannesmann takeover, the proposed Takeover Act in Germany, and the impact of the Financial Services and Markets Act 2000 in England. This collection examines the law regarding takeovers in England and Germany, taking account of these new developments, among others. It also deals specifically with the issues arising from cross-border mergers between the two jurisdictions. This collection will be indispensable to practising lawyers and in-house counsel whose practice touches on Anglo-German business affairs. It will also be of real interest to legal academics in this field.
Merger Masters Kate Welling, Mario Gabelli
11/2018
eBook
Merger Masters presents revealing profiles of monumentally successful merger investors based on exclusive interviews with some of the greatest minds to practice the art of arbitrage. Told in lively, ...accessible prose, it is an incomparable set of stories with plenty of unfiltered lessons from the best managers of our time.
European Commission Decisions on Competition provides a comprehensive economic classification and analysis of all European Commission decisions adopted pursuant to Articles 101, 102 and 106 of the ...FEU Treaty from 1962 to 2009. It also includes a sample of landmark European merger cases. The decisions are organised according to the principal economic theory applied in the case. For each economic category, the seminal Commission decision that became a reference point for that type of anticompetitive behaviour is described. For this, a fixed template format is used throughout the book. All subsequent decisions in which the same economic principle was applied are listed chronologically. It complements the most widely used textbooks in industrial organisation, competition economics and competition law, to which detailed references are offered. The book contains source material for teachers and students, scholars of competition law and economics, as well as practising competition lawyers and officials.
Mergers and acquisitions are a fundamental part of the business landscape, yet over half fail to deliver on their objectives. But how can those who bear the responsibility of the transaction improve ...their chances of success?_x000D__x000D_Leading the Deal is the first essential step in boosting these probabilities, providing new and unique insights into established strategies, detailing the key psychological leverage points that allow leadership teams to effectively direct the M&A, and in particular, the post-deal integration process._x000D__x000D_In this book, learn how to_x000D_* Set achievable objectives with the end in mind_x000D_* Build powerful teams and make them accountable_x000D_* Manage and harness board dynamics, attitudes and behaviours_x000D_* Balance opportunity and risk_x000D_* Communicate and invite constructive challenge_x000D_* Build and sustain momentum_x000D__x000D_Written by leading experts and practitioners, Thras Moraitis & Carlos Keener, Leading the Deal provides the necessary set of prompts to show how you can lead the deal to achieve M&A and integration success, whatever the industry and business.
Recent research indicates that labor market power has contributed to wage inequality and economic stagnation. Although the antitrust laws prohibit firms from restricting competition in labor markets ...as in product markets, the government does little to address the labor market problem, and private litigation has been rare and mostly unsuccessful. One reason is that the analytic methods for evaluating labor market power in antitrust contexts are far less sophisticated than the legal rules used to judge product market power. To remedy this asymmetry, we propose methods for judging the effects of mergers on labor markets. We also extend our approach to other forms of anticompetitive practices undertaken by employers against workers. We highlight some arguments and evidence indicating that market power may be even more important in labor markets than in product markets.
