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- Cartels (1)
- Chicago School; International Competition; Mergers; Bigness (1)
- Commission of the European Communities; Cross-border mergers; Stock Purchases; Merger Control (1)
- European Community; Internal Market; Free Trade Area (1)
- European Community; Internal Market; Treaty Establishing the European Economic Community; (1)
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- European Company Law; European Economic Community; Single European Act in 1986; European Company Statute (1)
- European Economic Community; Common Market; Treaty of Rome of 1958 (1)
- Financial Services Industry (1)
- Foreign Competition; Antitrust Law; Anti-merger Law; Market Mechanism of International Trade (1)
- Foreign Direct Investment; Open Investment Policy; National Security (1)
- Free Trade Law (1)
- International Banking Regulation (1)
- International Commodity Organizations (1)
- International Transactions (1)
- Japanese Companies (1)
- Liability of Sovereign States (1)
- Merger Policy; Industrial Policy; Regulation; Divestiture (1)
- Mergers; Takeovers; Joint-Ventures; (1)
- Negotiation Styles and Tactics (1)
Articles 1 - 13 of 13
Full-Text Articles in Law
Fortress Europe: The Myth, Martin Bangemann
Fortress Europe: The Myth, Martin Bangemann
Northwestern Journal of International Law & Business
The anticipation of the 1992 continental-wide market has already had an unexpected effect: one-third of the average 3.7% increase in economic growth of the European Community for 1988 is the result of investors anticipating the big market. This is the clearest signal the business community could make to show its confidence in Europe. This is the beginning of the most extensive exercise of deregulation the European Community has experienced since its creation in the 1950s. Everybody agrees that it is an irreversible trend. Long gone is the "benign neglect" of those on Wall Street and Pennsylvania Avenue that led the …
Ec Merger Control In The 1990s: An Overview Of The Draft Regulation, Frank L. Fine
Ec Merger Control In The 1990s: An Overview Of The Draft Regulation, Frank L. Fine
Northwestern Journal of International Law & Business
The wave of mergers and acquisitions experienced during the last several years in the United States is now on its way to Europe. The Commission of the European Communities ('Commission') recently reported that cross-border mergers and stock purchases of majority shareholdings in the European Community ('EC' or 'Community') have surged from 29 in 1983-1984 to 52 in 1985-1986. Acquisitions by non-EC companies, particularly United States and Japanese firms, are also likely to increase dramatically. The Community has become a field ripe for merger activity largely because both European and non-European companies are keen to position themselves in anticipation of '1992,' …
Merger Policy And Industrial Policy , Keith Cowling
Merger Policy And Industrial Policy , Keith Cowling
Northwestern Journal of International Law & Business
The article by Adams and Brock is a welcome and important antidote to current government thinking about merger policy, both in the United States and in Europe. In both regions, the government approach presumes the efficiency-creating properties of mergers and, therefore, adopts an extremely permissive stance. The declared imperative of international competitiveness echoes the view towards mergers which prevailed in Europe during the 1960s. However, while the analysis of Adams and Brock is both important and correct, I believe it is also incomplete. If bigness is a problem created largely by the laxity of past merger policy, then it is …
The Bigness Mystique And The Merger Policy Debate: A Comment From West Germany, Ingo L.O. Schmidt
The Bigness Mystique And The Merger Policy Debate: A Comment From West Germany, Ingo L.O. Schmidt
Northwestern Journal of International Law & Business
After eight years of an antitrust policy dominated by the principles of the Chicago School, which is better characterized as a protrust merger policy, the United States and the European Community are confronted with a new wave of mergers. The arguments for mergers are the same as in the 1960s: merger-induced bigness promotes international competition, efficiency, and technological progress. In this context, Adams and Brock in their excellent analysis ask the right questions. But did merger-induced corporate giantism provide salvation for European industry? Did it provide world-class competitiveness? Was it a success and a model of industrial policy worthy of …
Will There Be A Single European Community Insurance Market After 1992?, William E. Pool
Will There Be A Single European Community Insurance Market After 1992?, William E. Pool
Northwestern Journal of International Law & Business
There is a great deal of talk nowadays within each of the twelve Member States of the European Community, and outside too, about 1992. People are saying: "We must be ready for 1992, when the barriers will fall, and the Community's single Internal Market will come about." It all makes splendid headlines for the press, and it has caught the public's imagination. Nothing is new, of course, about the idea of creating a single Common Market among the Member States. Doing so is a fundamental objective of the Treaty of Rome of 1958, which founded the European Economic Community ("EC" …
Does Exposure To International Trade Justify Relaxed Antitrust Treatment Of Mergers, William James Adams
Does Exposure To International Trade Justify Relaxed Antitrust Treatment Of Mergers, William James Adams
Northwestern Journal of International Law & Business
When industries are exposed to foreign competition, relaxation of antitrust law in general, and of antimerger law in particular, may be justified in two ways. First, it may be argued that the ability to compete with foreigners requires possession of market power. One variant of this argument stresses the desirability of market power itself. Domestic enterprises must neutralize restrictive practices abroad -- whether they are inspired by foreign governments or merely tolerated by them -- if such enterprises are to enjoy their "natural" comparative advantages. A second variant of the argument emphasizes the growth of minimum efficient scale in manufacturing, …
Putting 1992 In Perspective, Mark L. Jones
Putting 1992 In Perspective, Mark L. Jones
Northwestern Journal of International Law & Business
The United States has vital economic, political and military stakes in the twelve member nations of the European Community ("EC" or "Community"). A review of the 1987 statistics regarding United States exports and United States foreign direct investment demonstrates the continued economic importance of the EC nations for the United States. The Community is currently carrying out an ambitious program to complete the EC "Internal Market" by 1992. This program calls for the Community to adopt almost 300 legislative measures aimed at eliminating the remaining barriers to the free movement of goods, persons, services and capital between the Member States. …
Towards A European Company Law, Dominique Carreau, William L. Lee
Towards A European Company Law, Dominique Carreau, William L. Lee
Northwestern Journal of International Law & Business
The prospect of creating a genuine "European" company law was raised as early as 1959, just two years after the signing of the Treaty of Rome establishing the European Economic Community. Curiously, the initiative was taken by practitioners and scholars and not by the business community, which expressed little interest in such an innovation at that time. The first steps were taken by the French Notaries Public who, at their 57th Annual Congress, suggested that it might be desirable "to adopt, by means of an international convention, a comprehensive company law, probably restricted to societes anonymes (large, publicly held [French] …
Problem Of Mergers, H.W. De Jong
Problem Of Mergers, H.W. De Jong
Northwestern Journal of International Law & Business
Mergers and takeovers are again the order of the day. In North America, Europe, Australia, Africa and East Asia, firms try to combine, to take over, and to cooperate in joint-ventures. The combination phenomenon has risen spectacularly during the past few years. The European Community Competition Policy Reports also document an appreciable rise in acquisitions of minority holdings and in joint ventures, both of which have more than doubled during the past six years. This evidence, which could easily be multiplied, points towards one general characteristic of the merger and takeover phenomenon: mergers, takeovers and other combinations occur in waves, …
Beware Of Japanese Negotiation Style: How To Negotiate With Japanese Companies, Danian Zhang, Kenji Kuroda
Beware Of Japanese Negotiation Style: How To Negotiate With Japanese Companies, Danian Zhang, Kenji Kuroda
Northwestern Journal of International Law & Business
This Article discusses various negotiation styles and tactics unique to the Japanese company staff in international transactions. The authors also intend to offer some suggestions as to how one might bridge the differences between U.S. and Japanese negotiators. We hope that this Article will be useful for those who have participated in or will participate in business negotiations with Japanese companies.
Effects Of The Canada-United States Free Trade Agreement On The Eqity Value Of U.S. And Canadian Banks, Leonard Bierman, Donald R. Fraser, Amanda Adkisson
Effects Of The Canada-United States Free Trade Agreement On The Eqity Value Of U.S. And Canadian Banks, Leonard Bierman, Donald R. Fraser, Amanda Adkisson
Northwestern Journal of International Law & Business
This Article explains the effects of the Canada-United States Free Trade Agreement on the wealth position of shareholders of major U.S. and Canadian banks. Following the argument that stock prices in an efficient market should capture the effects of changes in regulation (both domestic and international), one would expect the prices of Canadian banks to decrease as they face substantial new competition. Likewise, the stock prices of U.S. banks operating in Canada should either rise or remain unchanged as a result of the FTA. If the greater power associated with Canadian operations is expected to add to risk-adjusted profits, stock …
Cartel In A Can: The Financial Collapse Of The International Tin Council, Sandhya Chandrasekhar
Cartel In A Can: The Financial Collapse Of The International Tin Council, Sandhya Chandrasekhar
Northwestern Journal of International Law & Business
Sovereign states that are members of international commodity organizations must bear responsibility for the actions taken by their cartels. Without the threat of legal action and punishment as a deterrent, member states have little incentive to properly administer the international trading organizations to which they belong. This Comment will first review the factual background of the International Tin Council and the court's decision in Maclaine Watson & Co. v. Department of Trade & Industry. It will then discuss the charges that the ITC administration was mismanaged. Lastly, it will analyze some legal bases that support a decision imposing member state …
Regulation Of Foreign Direct Investment In The United States Defense Industry, Mark L. Hanson
Regulation Of Foreign Direct Investment In The United States Defense Industry, Mark L. Hanson
Northwestern Journal of International Law & Business
From 1973 to 1986, the amount of foreign capital invested in the United States increased tenfold. In 1973, the amount of foreign direct investment in the United States was $ 20.556 billion. By 1986, that figure had increased to $ 209.329 billion. Clearly, foreign capital has become a necessary element for the economic growth of the United States and has contributed significantly to the development of the nation. This Comment examines the adequacy of the existing restrictions upon foreign investment in industries holding defense contracts or having access to national security information. After first presenting the reasons underlying the United …