European Merger Control: Getting the Efficiencies Right.

Peter D. Camesasca Antwerp: Intersentia (2000), xiii + 498 pp., 120 euro.

A longstanding question on both sides of the Atlantic is the extent to which, and circumstances in which, anticipated postmerger efficiencies may justify a merger's approval. In the United States, efficiencies defenses were rejected in principle by the Supreme Court nearly 40 years ago. (1) Nonetheless, they have since been given at least partial weight by several lower courts. (2) Moreover, regulators have cautiously acknowledged the possible relevance of some merger-specific efficiencies, at least in the absense of a near-monopoly, in successive versions of the Horizontal Merger ...