Showing results for: “sirius xm merger”
Baker on the FCC’s Analysis of the Comcast-NBCU Merger
Jon Baker (FCC, American University) has posted an article summarizing the FCC’s analysis of the Comcast-NBCU merger. Here is the abstract. The FCC’s analysis of the Comcast-NBCU transaction fills a gap in the contemporary treatment of vertical mergers by providing a roadmap for courts and litigants addressing the possibility of anticompetitive exclusion. The FCC identified ... Baker on the FCC’s Analysis of the Comcast-NBCU Merger
The costs and benefits of hedge fund disclosure
The WSJ reports on proposed rules forcing hedge funds to disclose confidential proprietary information: Under current rules, many managers are required each quarter to publicly disclose their long equity positions in public securities. The proposed rules would require a much greater level of disclosure to regulators about trading positions, counterparties, liquidity, leverage and performance. * ... The costs and benefits of hedge fund disclosure
Death of a big law?
The Recorder (HT ATL) asks (concerning W & S’s rolling takeover of Howrey): Among the unknowns: What will be left of Howrey once lawyers have made up their mind about Winston, and what will happen with Howrey’s debt if most partners who receive offers accept them and no formal merger with Winston is completed? (In ... Death of a big law?
Airgas and shareholder value
Bebchuk, Cohen and Wang have posted Staggered Boards and the Wealth of Shareholders: Evidence from a Natural Experiment. Here’s the abstract: While staggered boards are known to be negatively correlated with firm valuation, such association might be due to staggered boards either bringing about lower firm value or merely being the product of the tendency ... Airgas and shareholder value
Delaware uncorporate law evolves an escape from Dodd-Frank
It’s been interesting to watch uncorporations (particularly LLCs and limited partnerships) evolve over the last twenty years or so. Perhaps the most interesting aspect of this evolution is what’s been happening in Delaware regarding contracting over fiduciary duties. This is particularly intriguing because it concerns a key area of difference between corporations and uncorporations — ... Delaware uncorporate law evolves an escape from Dodd-Frank
The Sound of One Hand Clapping: The 2010 Merger Guidelines and the Challenge of Judicial Adoption
Along with co-author Judd Stone, I’ve posted to SSRN our contribution to the Review of Industrial Organization‘s symposium on the 2010 Horizontal Merger Guidelines — The Sound of One Hand Clapping: The 2010 Horizontal Merger Guidelines and the Challenge of Judicial Adoption. The paper focuses on the Guidelines’ efficiencies analysis. We argue that while the ... The Sound of One Hand Clapping: The 2010 Merger Guidelines and the Challenge of Judicial Adoption
FCC Approves Comcast-NBC Merger With Conditions
While the FCC has announced its approval of the Comcast-NBC deal, The problem of overlapping agency review of mergers arises once again. We’ve discussed previously the costs of FCC merger view, and in particular, the issues of delay and imposition of conditions unrelated to the merger. The FCC review of the Comcast-NBC deal appears to ... FCC Approves Comcast-NBC Merger With Conditions
DOJ Gears Up To Challenge Proposed Google-ITA Merger
The WSJ reports that the DOJ is getting itself ready to challenge the Google-ITA merger (see earlier TOTM posts here and here): Justice Department staff lawyers have begun preparing legal documents for use in a possible court challenge to the $700 million deal for ITA Software Inc., but no decision to proceed has been made, ... DOJ Gears Up To Challenge Proposed Google-ITA Merger
Why (Ever) Define Markets?
The titular question is posed by Louis Kaplow (Harvard) in a recent piece in the Harvard Law Review that I suspect will attract a fair amount of attention. I may have more to say about this later, but for now, here is the abstract: Competition law is dominated by the market definition / market share ... Why (Ever) Define Markets?
Abercrombie goes to Ohio
Steve Davidoff has the story, and it’s an interesting exercise in corporate contracting complicated by jurisdictional choice. Abercrombie’s proposed reincorporation is essentially a takeover defense. Unlike Delaware, Abercrombie’s current state of incorporation, Ohio Has a business combination statute that’s triggered by a 10% acquisition rather than 15% as in Delaware. Has a control share acquisition ... Abercrombie goes to Ohio
Against Consumer Choice as an Antitrust Standard (Some Preliminary Thoughts)
The “consumer choice” approach to antitrust is increasingly discussed in a variety of settings, and endorsed by regulators and in scholarship, especially but not exclusively in the Section 5 context. The fundamental idea is that the “conventional” efficiency approach embedded in the total and/or consumer welfare standards is too cramped and does not measure the ... Against Consumer Choice as an Antitrust Standard (Some Preliminary Thoughts)
Lynn Stout on “criminogenic” hedge funds and insider trading
Lynn Stout, writing in the Harvard Business Review’s blog, claims that hedge funds are uniquely “criminogenic” environments. (Not surprisingly, Frank Pasquale seems reflexively to approve): My research, shows that people’s circumstances affect whether they are likely to act prosocially. And some hedge funds provided the circumstances for encouraging an antisocial behavior like not obeying the ... Lynn Stout on “criminogenic” hedge funds and insider trading
