When Should States Challenge Mergers: A Proposed Federal/State Balance

Abstract:     
This article critically analyzes the current system of United States merger enforcement, under which both federal and State antitrust enforcers scrutinizes and potentially can challenge any merger that affects interstate commerce. This article develops and proposes an alternative, a voluntary division of responsibility patterned after the European Union's approach. Under this alternative federal enforcers normally would defer to State enforcers for certain specified mergers, and State enforcers normally would defer to federal enforcers for other specified mergers.

Number of Pages in PDF File: 49

Keywords: merger, antitrust harmonization, state antitrust, state merger enforcement, European Union merger enforcement, federal/state cooperation

JEL Classification: K21, K19, K39

Accepted Paper Series