The Australian merger guidelines: A comparison with the U.S. merger guidelines
- 68 Downloads
Modern Australian antitrust had not begun when the first U.S. merger guidelines appeared in 1968. Even now, twenty five years later, no similarly detailed, formal administrative guidelines have been developed in Australia. This paper reviews the way in which the AustralianTrade Practices Act 1974 handles mergers and market definition, and considers how the Courts and the Trade Practices Commission, Australia's sole antitrust enforcement agency, have handled market definition and evaluated mergers. The key role played by the Trade Practices Tribunal, a quasi-judicial body, in influencing the Australian approach to mergers and market definition is highlighted. Contrasts are made with the 1992 American guidelines, and reasons for the different approaches are suggested.
Key wordsMergers merger guidelines market definition demand substitution geographic boundaries potential suppliers barriers to entry market share Herfindahl Hirschman Index
Unable to display preview. Download preview PDF.
- Brunt, Maureen (1990) ‘“Market Definition” issues in Australian and New Zealand trade practices litigation’,Australian Business Law Review,18, 86–128.Google Scholar
- Donald, B. and Heydon, J. D. (1978)Trade Practices Law, Vol. I. Sydney: The Law Book Company Limited.Google Scholar
- Fisher, Franklin M. (1979) ‘Diagnosing Monopoly’,Quarterly Review of Economics and Business,19, 7–33.Google Scholar
- Kaysen, C. and Turner, D. (1959)Antitrust Policy: An Economic and Legal Analysis. Cambridge, Massachusetts: Harvard University Press.Google Scholar
- Trade Practices Commission (1985)Annual Report for 1984–85. Canberra: Australian Government Publishing Service.Google Scholar
- Trade Practices Commission (1986)Guidelines for the Merger Provisions of the Trade Practices Act 1974 Canberra: Trade Practices Commission.Google Scholar
- Trade Practices Commission (1990)Misuse of Market Power: A Background Paper. Canberra: Trade Practices Commission.Google Scholar
- Trade Practices Act Review Committee (‘The Swanson Committee’) (1976)Report to the Minister for Business and Consumer Affairs. Canberra: Australian Government Publishing Service.Google Scholar
- U.S. Department of Justice and Federal Trade Commission (1992)Horizontal Merger Guidelines, reprinted in 4 Trade Regulation Reporter (CCH) ¶13,104.Google Scholar