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Research Handbook on Global Merger Control
Over the past 30 years, merger control has become well-established around the world with broad consensus around its ambit and objectives. That consensus has fractured in recent years. Enforcement today is at a critical juncture, facing an array of challenges and calls for reform unprecedented in their scope and intensity. Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses those challenges and predicts how merger control is likely to evolve.
More Information
Contributors
Contents
More Information
Over the past 30 years, merger control has become well-established around the world with broad consensus around its ambit and objectives. That consensus has fractured in recent years. Enforcement today is at a critical juncture, facing an array of challenges and calls for reform unprecedented in their scope and intensity.
Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses various critiques that have been made and considers an array of jurisdictional, procedural, substantive and other issues that are generating intense debate across the antitrust community. These include the scope and objectives of merger control, whether merger control can be reconciled with industrial policy, whether the consumer welfare standard is an appropriate tool for substantive assessment, whether merger control should be used to meet broader policy objectives, and whether existing rules and presumptions are appropriate for the digital age.
This Research Handbook will be of great value to anyone interested in global merger control, digital markets, industrial policy and the role of public interest considerations. It provides an excellent tool for academics and practitioners looking to gain a rounded view of current issues in global merger control and an understanding of how enforcement is likely to evolve.
Authored by leading legal practitioners, economists, enforcers and jurists, this timely Research Handbook on Global Merger Control discusses various critiques that have been made and considers an array of jurisdictional, procedural, substantive and other issues that are generating intense debate across the antitrust community. These include the scope and objectives of merger control, whether merger control can be reconciled with industrial policy, whether the consumer welfare standard is an appropriate tool for substantive assessment, whether merger control should be used to meet broader policy objectives, and whether existing rules and presumptions are appropriate for the digital age.
This Research Handbook will be of great value to anyone interested in global merger control, digital markets, industrial policy and the role of public interest considerations. It provides an excellent tool for academics and practitioners looking to gain a rounded view of current issues in global merger control and an understanding of how enforcement is likely to evolve.
Contributors
Contributors: Tembinkosi Bonakele, Anu Bradford, Josh Buckland, Alec J. Burnside, Bianca Buzatu, Étienne Chantrel, Alexandre Cordeiro Macedo, Lesya Davydova, Joan de Solà-Morales, Frederic Depoortere, Anastasia Dokukina, Jonathan Faull, Andrew Foster, Kyriakos Fountoukakos, Eleanor M. Fox, Kristien Geeurickx, Barry E. Hawk, Deborah Healey, Andrew Hilland, D. Bruce Hoffman, Cunzhen Huang, Bojana Ignjatovic, Nicole Kar, Kozo Kawai, Adam Kidane, Suzanne Kingston, Ioannis Kokkoris, Gabriel J. Lazarus, Mark Leddy, Nicholas Levy, Philip Lowe, Teresa Moreira, Jorge Padilla, Joe Perkins, Salvatore Piccolo, Camille Puech-Baron, Colin Raftery, Pierre Régibeau, Kenneth Reinker, Andris Rimsa, Lars-Peter Rudolf, Robert Ryan, Ken Schwartz, Madoka Shimada, Rhonda L. Smith, Yiming Sun, Andrey Tsyganov, Nisha Kaur Uberoi, Bo Vesterdorf, Sven B. Völcker, Mike Walker, Elie Yoo, Hans Zenger
Contents
Contents:
Foreword xii
Preface xv
Research Handbook on Global Merger Control: Introduction and synopsis 1
Ioannis Kokkoris and Nicholas Levy
PART I INSIGHTS ON SELECT TOPICS
1 The proliferation of global merger control 11
Mark Leddy, Kenneth Reinker and Lars-Peter Rudolf
2 Why agencies diverge in their reviews of global deals 49
Frederic Depoortere, Andrew Foster, Barry Hawk and Ken Schwartz
3 Market definition in merger control revisited 87
Jorge Padilla, Joe Perkins and Salvatore Piccolo
4 Mergers with homogeneous products: A primer 108
Hans Zenger and Pierre Régibeau
5 The past, present and future of the SIEC standard in EU merger review 128
Sven B. Völcker
6 How to address under-enforcement in digital markets? 147
Robert Ryan, James Rutt and Mike Walker
7 Is the approach to “failing” and “flailing” firms in merger control fit for
purpose? 163
Nicole Kar and Josh Buckland
8 Efficiencies in horizontal mergers: the white whale of EU merger control? 190
Bojana Ignjatovic and Joan de Solà-Morales
9 The jurisdictional reach of EC merger control: Striking the right balance 216
Nicholas Levy, Andris Rimsa and Bianca Buzatu
10 The importance of judicial review for the future of EU merger control 241
Bo Vesterdorf, Kyriakos Fountoukakos, Kristien Geeurickx and Camille
Puech-Baron
11 The politics of merger control in the European Union 267
Jonathan Faull
12 Industrial policy and EU merger control – finding the right tools 273
Philip Lowe, Alec Burnside, and Adam Kidane
13 EU merger control and national security assessment: A moving target 328
Ioannis Kokkoris
14 Can EU merger control resist the turn towards protectionism? 352
Anu Bradford
15 Mergers, antitrust and the China card 367
Eleanor M. Fox
16 Greening merger control? The role of environmental considerations in
merger analysis 383
Suzanne Kingston
PART II JURISDICTION-SPECIFIC INSIGHTS
17 Mergers Down Under 403
Deborah Healey and Rhonda L. Smith
18 Global mergers and international remedies 427
Alexandre Cordeiro Macedo
19 China’s merger control 437
Cunzhen Huang and Yiming Sun
20 Merger control in France 462
Étienne Chantrel
21 In review: Merger control in India 486
Nisha Kaur Uberoi
22 Merger control in Japan: Select jurisdictional, procedural and
substantive developments 515
Kozo Kawai and Madoka Shimada
23 Merger control in Russia: Review and perspectives 537
Andrey Tsyganov, Lesya Davydova and Anastasia Dokukina
24 Jurisdictional and policy issues in South Africa, including a focus on
digital markets 563
Tembinkosi Bonakele
25 UK merger control: Select jurisdictional, procedural and substantive issues 594
Colin Raftery, Elie Yoo and Andrew Hilland
26 US merger control 617
D. Bruce Hoffman and Gabriel J. Lazarus
Index
Foreword xii
Preface xv
Research Handbook on Global Merger Control: Introduction and synopsis 1
Ioannis Kokkoris and Nicholas Levy
PART I INSIGHTS ON SELECT TOPICS
1 The proliferation of global merger control 11
Mark Leddy, Kenneth Reinker and Lars-Peter Rudolf
2 Why agencies diverge in their reviews of global deals 49
Frederic Depoortere, Andrew Foster, Barry Hawk and Ken Schwartz
3 Market definition in merger control revisited 87
Jorge Padilla, Joe Perkins and Salvatore Piccolo
4 Mergers with homogeneous products: A primer 108
Hans Zenger and Pierre Régibeau
5 The past, present and future of the SIEC standard in EU merger review 128
Sven B. Völcker
6 How to address under-enforcement in digital markets? 147
Robert Ryan, James Rutt and Mike Walker
7 Is the approach to “failing” and “flailing” firms in merger control fit for
purpose? 163
Nicole Kar and Josh Buckland
8 Efficiencies in horizontal mergers: the white whale of EU merger control? 190
Bojana Ignjatovic and Joan de Solà-Morales
9 The jurisdictional reach of EC merger control: Striking the right balance 216
Nicholas Levy, Andris Rimsa and Bianca Buzatu
10 The importance of judicial review for the future of EU merger control 241
Bo Vesterdorf, Kyriakos Fountoukakos, Kristien Geeurickx and Camille
Puech-Baron
11 The politics of merger control in the European Union 267
Jonathan Faull
12 Industrial policy and EU merger control – finding the right tools 273
Philip Lowe, Alec Burnside, and Adam Kidane
13 EU merger control and national security assessment: A moving target 328
Ioannis Kokkoris
14 Can EU merger control resist the turn towards protectionism? 352
Anu Bradford
15 Mergers, antitrust and the China card 367
Eleanor M. Fox
16 Greening merger control? The role of environmental considerations in
merger analysis 383
Suzanne Kingston
PART II JURISDICTION-SPECIFIC INSIGHTS
17 Mergers Down Under 403
Deborah Healey and Rhonda L. Smith
18 Global mergers and international remedies 427
Alexandre Cordeiro Macedo
19 China’s merger control 437
Cunzhen Huang and Yiming Sun
20 Merger control in France 462
Étienne Chantrel
21 In review: Merger control in India 486
Nisha Kaur Uberoi
22 Merger control in Japan: Select jurisdictional, procedural and
substantive developments 515
Kozo Kawai and Madoka Shimada
23 Merger control in Russia: Review and perspectives 537
Andrey Tsyganov, Lesya Davydova and Anastasia Dokukina
24 Jurisdictional and policy issues in South Africa, including a focus on
digital markets 563
Tembinkosi Bonakele
25 UK merger control: Select jurisdictional, procedural and substantive issues 594
Colin Raftery, Elie Yoo and Andrew Hilland
26 US merger control 617
D. Bruce Hoffman and Gabriel J. Lazarus
Index
