Merger value is frequently evaluated in single market contexts without considering possible gains stemming from firms … multimarket firms create incremental value. We establish a simple theoretical model that determines merger value in a multimarket … firm environment. The model enables us to derive merger values as being independent of post-merger market shares, but …

merger between regulated firms when cost synergies are uncertain before the merger and their realization becomes private … information of the merged firm. The optimal merger policy trades off potential cost savings against regulatory distortions from … market induces a more lenient merger policy. The regulated firms' diversification into a competitive segment of the market …

merger will be effectively realised. Moreover, the paper offers a possible explanation for merger failures. …

We study upstream horizontal mergers and their potential efficiency gains. We show that an upstream horizontal merger … and decreases wholesale prices when downstream competition is not too strong. Examining whether the merger’s potential …

that would prevent a merger from harming consumers for 1,014 mergers affecting 12,325 antitrust markets scrutinized by the … concerns about the Commission’s merger enforcement being too lax. …

This paper studies the role of structural remedies in merger control in a Cournot setting where (endogenous) mergers … partial divestiture for approval. Both positive and negative effects of merger remedies are identified. First, structural … remedies create new merger opportunities to firms. Second, when divestitures are required, the AA over-fixes, i.e., goes beyond …

We develop a model in which two firms that have proposed to merge are privately informed about merger …-specific efficiencies. This enables the firms to influence the merger control procedure by strategically revealing their information to an … on the merger control institution and, in particular, whether it involves an efficiency defense. We derive the optimal …