Research on Horizontal Mergers Guidelines in the United States and the European Union

Author: Dong Hongxia
Publisher:
Publish Date: 2007-01-01
Features: Mergers and acquisitions are a prominent phenomenon in the operation of the modern economy. M&A can enable enterprises to achieve economies of scale, improve efficiency, and enhance competitiveness. At the same time, M&A also exhibits an inherent and unavoidable tendency to exclude and restrict competition. Therefore, regulating M&A activities is one of the three core components of antitrust law. Currently, most analytical frameworks for regulating M&A worldwide are based on the support of economic theories. Economic analysis methods dominate M&A regulation in the United States and the European Union, which is prominently reflected in their guidelines on horizontal M&A. This book conducts research on the definition of relevant markets in M&A regulation and the impact of M&A on market competition from an economic analysis perspective. Building on theoretical research, it analyzes the M&A guidelines of the United States and the European Union, extracts an analytical framework for M&A regulation in China (i.e., M&A guidelines), and proposes relevant policy recommendations.