mergers when deciding whether to approve a current merger notification. The result is a more stringent CA that demands higher … reduces prices. However, in the absence of entry and exit, a merger policy that considers alternative mergers is never … adopts (tougher or laxer). Lastly, the paper suggests that even when alternative mergers could have positive effects on …

mergers difficult. Mergers that should occur in equilibrium do not, since they require an unequal split of surplus. …