Showing results for: “sirius xm merger”
Market Definition and the Merger Guidelines, Again
Do the 2010 Horizontal Merger Guidelines require market definition? Will the agencies define markets in cases they bring? Are they required to do so by the Guidelines? By the Clayton Act? Here is Commissioner Rosch in the FTC Annual Report (p.18): “A significant development in 2010 was the issuance of updated Horizontal Merger Guidelines by ... Market Definition and the Merger Guidelines, Again
Merger Retrospective
Several years ago, the DOJ cleared a merger between Whirlpool and Maytag. The primary defense was that post-merger prices could not rise because of intense competition from foreign competitors like LG and Samsung. Apparently the actual competition was more than Whirlpool wanted to bear. Guess What? Mr. Laissez-Faire Antitrust, meet Dr. Public Choice. The Wall ... Merger Retrospective
Smoothing Demand Kinks
One criticism of the unilateral effects analysis in the 2010 Merger Guidelines is that demand curves are kinked at the current price. A small increase in price will dramatically reduce the quantity demanded. One rationale for the kink is that people over-react to small price changes and dramatically reduce demand. As a result of this ... Smoothing Demand Kinks
No Facts, No Problem?
There has been, as is to be expected, plenty of casual analysis of the AT&T / T-Mobile merger to go around. As I mentioned, I think there are a number of interesting issues to be resolved in an investigation with access to the facts necessary to conduct the appropriate analysis. Annie Lowery’s piece in Slate ... No Facts, No Problem?
The AT&T and T-Mobile Merger
The big merger news is that AT&T is planning to acquire T-Mobile. From the AT&T press release: AT&T Inc. (NYSE: T) and Deutsche Telekom AG (FWB: DTE) today announced that they have entered into a definitive agreement under which AT&T will acquire T-Mobile USA from Deutsche Telekom in a cash-and-stock transaction currently valued at approximately ... The AT&T and T-Mobile Merger
The Dodd-Frank debacle, takeover edition
The so-called “Dodd-Frank Wall Street Reform and Consumer Protection Act” was supposed to fix the problems that led to the financial bust. Of course, that would require some understanding of what, exactly, those problems were, which Congress lacked. The Act did little to fix the credit raters or the derivatives market that surely had something ... The Dodd-Frank debacle, takeover edition
The iPad 2 and the E2
Professor B says: In the last week I used my iPad to: Watch QI on Youtube. Watch TV shows, movies, and music videos from my iTunes library. Online banking. Online shopping. Web access. WSJ. BBC. Dinner reservations over Open Table. Deer Hunter. Online poker. Document access via Dropbox. Document editing via Quick Office. IMDB. Twitter ... The iPad 2 and the E2
The Airgas decision
So Chancellor Chandler, in deciding Airgas, preserved the board’s power to decide when to sell the company. If a company’s shareholders don’t like it, they need to replace the board. If shareholders generally don’t like it they need to change the Delaware statute. In upholding the board’s power, and confirming what most astute observers knew ... The Airgas decision
NYSE-Deutsche Borse and jurisdictional competition
The WSJ opines on the impending sale of the NYSE to Deutsche Börse of Frankfurt. It describes the merger as “a story of inevitable capitalist change and how no country or institution can take its dominance for granted” and a “lesson in how easily capital, both financial and human, can relocate.” It describes the 171 ... NYSE-Deutsche Borse and jurisdictional competition
Tim Wu to the FTC: What does it mean?
As you may have heard, Columbia lawprof and holder of the dubious distinction of having originated the term and concept of Net Neutrality, Tim Wu, is headed to the FTC as a senior advisor. Curiously, his guest stint runs for only about four and a half months. As the WSJ reports: Mr. Wu, 38, will ... Tim Wu to the FTC: What does it mean?
Big Antitrust Casebook News
OK. Big news for me, anyway. I’m very pleased to announce that I will be joining Andy Gavil, (also my former boss) William Kovacic, and Jonathan Baker as a co-author of the forthcoming Third Edition of Antitrust Law in Perspective: Cases, Concepts and Problems in Competition Policy. The new edition should be available for Spring ... Big Antitrust Casebook News
Pay gaps as big law’s death rattle
Today’s WSJ reports on more evidence of the death of big law under the headline “Pay Gap Widens at Big Law Firms as Partners Chase Star Attorneys.”: Some of the biggest law firms are paying outsize salaries to star attorneys, in some cases 10 times what they give other partners, in a strategy that is ... Pay gaps as big law’s death rattle
