Some Dynamics of High-Tech Merger Analysis in General and with Respect to Xm-Sirius

Posted: 8 Oct 2008

Multiple version iconThere are 2 versions of this paper

Date Written: September 2008

Abstract

Horizontal merger evaluation is heavily reliant on market definition. An SSNIP framework formats the analysis, and demand elasticity evidence used to apply the test is often sparse, as is often found in high-technology industries. This paper examines other sources of evidence that reveal the dynamics of market structure, data that are also probative in the evaluation of competitive effects. These sources include capital valuations of firms, financial event studies, and the public positions taken with respect to the merger by interested parties. Such evidence is examined in the XM-Sirius merger (2007-08) and shown-in two of the three instances-to be relatively informative in merger welfare analysis.

Keywords: K21, L41, L82

Suggested Citation

Hazlett, Thomas W., Some Dynamics of High-Tech Merger Analysis in General and with Respect to Xm-Sirius (September 2008). Journal of Competition Law and Economics, Vol. 4, Issue 3, pp. 753-773, 2008, Available at SSRN: https://ssrn.com/abstract=1277781 or http://dx.doi.org/nhn024

Thomas W. Hazlett (Contact Author)

Clemson University ( email )

Clemson, SC 29634
United States
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HOME PAGE: http://hazlett.people.clemson.edu/

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