Chapter 12 Horizontal Mergers and Acquisitions
A merger or acquisition (hereinafter a merger) is horizontal to the extent that the merger partners are well-placed to compete for the patronage of the same buyers in relation to given purchasing decisions. This chapter analyzes the determinants of the economic effects of horizontal mergers that are relevant to their legality under U.S. and E.C./E.U. antitrust law and states and criticizes both the approaches that U.S. and E.C./E.U. authorities have taken to the analysis of the antitrust legality of such mergers and various conclusions they have reached about the legal relevance of various facts.