We model likely effects of Biden Administration changes in merger enforcement on five discrete decisions in the review process. We find that the policy changes can be expected to stop many bad mergers but only at the cost of stopping even more good mergers, largely as a consequence of the increased cost of the regulatory gauntlet.
By Luke M. Froeb, Steven T. Tschantz & Gregory J. Werden[1]
I. INTRODUCTION
From the outset of the Biden administration, the Federal Trade Commission (“FTC”)
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