Showing results for: “sirius xm merger”
Was the Whirlpool/Maytag Merger Anticompetitive After All?
One of the most controversial merger policy decisions during the Bush administration was the DOJ’s failure to bring a complaint against the Whirlpool/Maytag merger. Indeed, the decision was even criticized by Carl Shapiro, the economic expert retained by the DOJ on the case. Jonathan Baker and Carl Shapiro summarize this conclusion as follows: “The March ... Was the Whirlpool/Maytag Merger Anticompetitive After All?
The emerging venue battle in El Paso/Kinder Morgan
T-R’s Alison Frankel writes (HT Pileggi) about dueling suits in Texas and Delaware challenging the El Paso/Kinder Morgan merger: Three class actions in Texas state court and two class actions and a shareholder derivative suit in Delaware Chancery. It looks like this merger may bring to a head the “escape from Delaware” phenomenon I discussed ... The emerging venue battle in El Paso/Kinder Morgan
ABA Roundtable Discussion Tomorrow on the AT&T/T-Mobile Merger
As I have posted before, I was disappointed that the DOJ filed against AT&T in its bid to acquire T-Mobile. The efficacious provision of mobile broadband service is a complicated business, but it has become even more so by government’s meddling. Responses like this merger are both inevitable and essential. And Sprint and Cellular South piling on doesn’t help ... ABA Roundtable Discussion Tomorrow on the AT&T/T-Mobile Merger
Exclusion Still Doesn’t Explain Verizon’s Stock Price Non-Reaction to the DOJ Challenge Announcement (Correcting AAI’s Letter to the WSJ Editor)
Yale’s George Priest authored an op-ed in the WSJ on September 6th in which he raised a few of the arguments discussed here at TOTM over the past several weeks regarding the proposed AT&T / T-Mobile merger. For example, we’ve focused upon the tension between the DOJ complaint’s theories of competitive harm (coordinated and unilateral ... Exclusion Still Doesn’t Explain Verizon’s Stock Price Non-Reaction to the DOJ Challenge Announcement (Correcting AAI’s Letter to the WSJ Editor)
The man who invented the hostile takeover
Henry Manne first theorized the market for corporate control, but the man who first put the concept into action was Louis E. Wolfson. I blogged briefly about Wolfson when he died in 2008. Now you can read more about him in Alan M. Weinberger, What’s in a Name?– The Tale of Louis Wolfson’s Affirmed, 39 Hofstra ... The man who invented the hostile takeover
NY Times (and maybe Professor Hovenkamp?!) Confused About the Merger Guidelines
The NY Times starts its op-ed against the AT&T / T-Mobile transaction with a false proposition about antitrust analysis of mergers: “The analysis begins with a mathematical formula for calculating the deal’s effect on competition.” Any antitrust lawyer or economist will recognize the error. A major change from the 1997 Horizontal Merger Guidelines to the ... NY Times (and maybe Professor Hovenkamp?!) Confused About the Merger Guidelines
Why Did Sprint Pile On the DOJ’s AT&T / T-Mobile Suit?
So, the AT&T / T-Mobile transaction gets more and more interesting. Sprint has filed a complaint challenging the transaction. I’ve been commenting on the weakness of the DOJ complaint and in particular, its heavy reliance on market structure to make inferences about competitive effects. The heavy dose of structural presumption in the DOJ complaint — ... Why Did Sprint Pile On the DOJ’s AT&T / T-Mobile Suit?
The Spectrum Argument Lives, Debunking Letter-Gate, and Why the DOJ Is Still Wrong to Try to Stop the AT&T/T-Mobile Merger
[Cross-posted at Tech Liberation Front] Milton Mueller responded to my post Wednesday on the DOJ’s decision to halt the AT&T/T-Mobile merger by asserting that there was no evidence the merger would lead to “anything innovative and progressive” and claiming “[t]he spectrum argument fell apart months ago, as factual inquiries revealed that AT&T had more spectrum than Verizon and the ... The Spectrum Argument Lives, Debunking Letter-Gate, and Why the DOJ Is Still Wrong to Try to Stop the AT&T/T-Mobile Merger
Do Exclusionary Theories of the AT&T / T-Mobile Transaction Better Explain the Market’s Reaction to the DOJ’s Decision to Challenge the Merger?
I don’t think so. Let’s start from the beginning. In my last post, I pointed out that simple economic theory generates some pretty clear predictions concerning the impact of a merger on rival stock prices. If a merger is results in a more efficient competitor, and more intense post-merger competition, rivals are made worse off ... Do Exclusionary Theories of the AT&T / T-Mobile Transaction Better Explain the Market’s Reaction to the DOJ’s Decision to Challenge the Merger?
Why Is Sprint’s Stock Surging Upon the Announcement of the DOJ’s Challenge to the Proposed AT&T / T-Mobile Merger?
Basic economic theory underlies the conventional antitrust wisdom that if a merger makes the merging party a more effective competitorby lowering its costs, rivals facing this more effective competitor post-merger are made worse off, but consumers benefit. On the other hand, if a merger is likely to result in collusion or a unilateral price increase, ... Why Is Sprint’s Stock Surging Upon the Announcement of the DOJ’s Challenge to the Proposed AT&T / T-Mobile Merger?
A couple of quick thoughts on the DOJ’s filing to block AT&T/T-Mobile
As Josh noted, the DOJ filed a complaint today to block the merger. I’m sure we’ll have much, much more to say on the topic, but here are a few things that jump out at me from perusing the complaint: The DOJ distinguishes between the business (“Enterprise”) market and the consumer market. This is actually ... A couple of quick thoughts on the DOJ’s filing to block AT&T/T-Mobile
DOJ Files Suit to Block AT&T / T-Mobile Merger
More on this later. For now, here is the complaint and the press release: WASHINGTON – The Department of Justice today filed a civil antitrust lawsuit to block AT&T Inc.’s proposed acquisition of T-Mobile USA Inc. The department said that the proposed $39 billion transaction would substantially lessen competition for mobile wireless telecommunications services ... DOJ Files Suit to Block AT&T / T-Mobile Merger
