From Surrogates to Stories: The Evolution of Federal Merger Policy
5 Pages Posted: 18 Dec 2008
Date Written: Spring 1997
This article traces the evolution of federal merger policy. It documents how merger enforcement originally was largely based upon very strong structural presumptions. These presumptions gradually eroded and other factors became more and more important in enforcement decisions. Today meger enforcement essentially consists of structural safe harbors and a full rule of reason analysis for any merger not within these safe harbors.
Keywords: mergers, merger policy, antitrust, rule of reason, safe harbors
JEL Classification: K21, K22
Suggested Citation: Suggested Citation