By Ioannis Kokkoris
This e-book addresses the phenomenon of mergers that can bring about non-coordinated results in oligopolistic markets. Such situations are often known as "non-collusive oligopolies", or "gap situations" and there's a trouble that they may not be lined by way of the major attempt that a few Member States use for merger evaluation. Ioannis Kokkoris examines the argument that the eu neighborhood Merger rules (Regulation 4064/89) didn't trap hole situations and considers the level to which the revised substantial try out in law 139/2004 offers with the matter of non-collusive oligopolies. the writer identifies real examples of mergers that gave upward thrust to an issue of non-coordinated results in oligopolistic markets, either within the ecu and in different jurisdictions, and analyses the best way those instances have been handled in perform. The ebook considers felony structures similar to uk, usa, Australia and New Zealand. The booklet investigates no matter if there's any distinction within the review of non-collusive oligopolies among many of the major exams which were followed for merger review in quite a few jurisdictions. The publication additionally seems on the numerous methodological instruments to be had to help festival experts and the pro advisers of merging enterprises to spot no matter if a specific merger may perhaps supply upward push to anticompetitive results and explores the kind of marketplace constitution within which a merger is probably going to steer to non-coordinated results in oligopolistic markets.
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Extra resources for Merger control in Europe: the gap in the ECMR and national merger legislations
High market shares, price parallelism, high entry barriers as well as market transparency rendered collective dominance likely in the post- EC Merger Regulation No. 4064/89 19 merger market. The merger was approved after considerable divestiture measures were proposed by the parties. In Kali und Salz,85 the Court of Justice held that the ECMR did apply to situations of collective dominance. Kali und Salz proposed to conclude a joint venture with Treuhandanstalt. The Commission argued that the merger would lead to collective dominance.
4 In addition, mergers provide the means to a firm to exit the industry while at the same time reap a monetary reward or compensation for the risks and the initial investments. 6 Mergers may eliminate any competition that exists between the merging parties and may lead to a reduction in the number of firms competing in the market. Where this reduction has a substantial adverse effect on overall market competition, the market will be less oriented to consumer and efficiency goals, even in the absence of breaches of competition legislation.
Owners of firms may sometimes give managers incentives in their contracts to achieve some of these targets (that is to say increasing the firm’s size in the marketplace). See further: Motta M. (2004), Competition Policy-Theory and Practice, Cambridge University Press, Cambridge, 243. 6 Recitals 2 and 3 of the preamble of the Recast ECMR, Council Regulation (EC) No. 2004, 1–22. 7 Article 2(3), Council Regulation (EC) No. 2004, 1–22. 2. html, vi, 62–3. EC Merger Regulation No. 4064/89 27 10 This paragraph does not refer to non-coordinated effects in oligopolistic markets.