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All Faculty Scholarship

2020

Antitrust and Trade Regulation

And conglomerate mergers

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Preventing The Curse Of Bigness Through Conglomerate Merger Legislation, Robert H. Lande, Sandeep Vaheesan Jan 2020

Preventing The Curse Of Bigness Through Conglomerate Merger Legislation, Robert H. Lande, Sandeep Vaheesan

All Faculty Scholarship

The antitrust laws, as they are presently interpreted, are incapable of blocking most of the very largest corporate mergers. They successfully blocked only 4 of the 61 largest finalized mergers and acquisitions (defined as the acquired firm being valued at more than $10 billion) that occurred between 2015 and 2018. The antitrust laws also would permit the first trillion-dollar corporation, Apple, to merge with the third largest corporation, Exxon/Mobil. In fact, today every U.S. corporation could merge until just 10 were left – so long as each owned only 10% of every relevant market.

Even though the Congresses that enacted …