Showing results for: “sirius xm merger”
Abuse of Plaintiff Win Rates as Evidence that Antitrust Law Is Too Lenient
I was recently reading Dean Chemerinsky (Irvine Law) on the Roberts Court at Age 3. One of Chemerinsky’s standard takes when he talks about the Roberts Court is that the Court’s pro-business stance is one of its defining characteristics. Readers of the blog will know that I’ve been critical of Chemerinsky for his superficial antitrust ... Abuse of Plaintiff Win Rates as Evidence that Antitrust Law Is Too Lenient
Citigroup, Wachovia, and Wells Fargo: Round Three
For those who have missed it, Citigroup announced almost two weeks ago an agreement in principle with Wachovia to acquire for $2.1 billion Wachovia’s retail banking operations. Four days later, Wells Fargo jumped the deal, announcing a merger agreement signed by both boards for Wells Fargo to acquire all of Wachovia. This violated an Exclusivity ... Citigroup, Wachovia, and Wells Fargo: Round Three
Commissioner Rosch v. Economics, Again
I’ve been critical of the Federal Trade Commission, and particularly Commissioner Rosch, for embracing what I think is a dangerously obsolete view of the role of economics in antitrust. First, it was the Section 2 Report response and before that, it was Commissioner Rosch’s observation that “any kind of economic analyses that require the use ... Commissioner Rosch v. Economics, Again
Exclusivity Agreements, the Bailout Act, and Section 126(c)
The Wachovia-Citigroup-Wells Fargo dance continues. Now, however, it seems to involve confusion about Section 126(c) of the newly adopted Emergency Economic Stabilization Act (“EESA”). Allow me to take a stab at clarifying. To bring everyone up to speed, last weekend, after Lehman was allowed to go belly-up and Washington Mutual was seized by the FDIC, ... Exclusivity Agreements, the Bailout Act, and Section 126(c)
Wachovia, Wells Fargo, and Citigroup – Score one for Citigroup!
Last last night, a New York judge issued an injunction tolling the termination of Wachovia’s Exclusivity Agreement with Citigroup. In addition, the judge set a show cause hearing date for next Friday to sort out the issue of whether Wachovia’s pending merger with Wells Fargo should be enjoined as a violation of Wachovia’s exclusivity agreement ... Wachovia, Wells Fargo, and Citigroup – Score one for Citigroup!
Hexion v. Huntsman: Vice Chancellor Lamb’s Must-Read Opinion For Deal Lawyers
On Monday night, Delaware Vice Chancellor Lamb issued an opinion in the epic Hexion v. Huntsman battle, ordering Hexion to perform its obligations under its 2007 agreement to acquire Huntsman. The opinion is well worth reading for deal lawyers – it offers a good tutorial on how private equity deals can fall apart, how merger ... Hexion v. Huntsman: Vice Chancellor Lamb’s Must-Read Opinion For Deal Lawyers
Coate on Unilateral Effects at the FTC
FTC economist Malcolm Coate has posted Unilateral Effects Under the Guidelines: Models, Merits and Merger Policy to SSRN. Here’s the abstract: This paper models FTC unilateral effects merger policy using a broad sample of 153 investigations undertaken between 1993 and 2005. Standard unilateral effects analysis proposes a range of models for competitive effects. A review ... Coate on Unilateral Effects at the FTC
Antitrust and Health Care
Barak Richman (Duke) and James Blumstein (Vanderbilt) have an interesting exchange at PENNumbra, University of Pennsylvania School of Law’s online forum for debate surrounding scholarship in the U. Penn. L. Rev. Here’s the abstract from Professor Richman’s article: Courts reviewing proposed mergers of nonprofit hospitals have too often abandoned the bedrock principles of antitrust law, ... Antitrust and Health Care
Cartel Enforcement and the Election
From an excellent short article by Dan McInnis (Akin Gump) on the potential impact of the election on cartel policy in Global Competition Policy: Antitrust policy has played little role in the election. Indeed, at least for cartel policy, there may be little to differentiate the candidates. Given that both U.S. political parties as well ... Cartel Enforcement and the Election
Questions on the Bailout
From Peter Klein: Over and over during the last week we’ve been told that unless Congress, the Treasury, and the Fed “take”bold action,” credit markets will freeze, equity values will plummet, small businesses and homeowners will be wiped out, and, ultimately, the entire economy will crash. Such pronouncements are issued boldly, with a sort of ... Questions on the Bailout
AIG/NY Fed Credit Agreement
available here. From the 8-K: On September 22, 2008, American International Group, Inc. (“AIG”) entered into an $85 billion revolving credit facility (the “Credit Facility”) and a Guarantee and Pledge Agreement (the “Pledge Agreement”) with the Federal Reserve Bank of New York (“NY Fed”). The Credit Facility has a two year term and bears interest ... AIG/NY Fed Credit Agreement
Baker on the Dueling Bush Administration Antitrust Agencies
Jonathan Baker (American) has a column at The New Republic focusing on a different aspect of the FTC vs. DOJ scuffles over antitrust policy. Baker claims that the DOJ is engaging in what he describes as “deregulatory radicalism that allows monopolies to spin out of control,” while he is largely supportive of FTC policies. Baker ... Baker on the Dueling Bush Administration Antitrust Agencies
