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Essay / Research Paper Abstract
This 12 page paper looks at the problems which are created with the various regulations of different jurisdiction and the control of mergers or acquisitions. Difficulties include issues such as high direct and indirect costs, different rules and approaches and time delays. The main thrust of the paper looks at the argument for a bilateral agreement between the European Union (EU)U and the US. The paper starts by reviewing an article supplied by the student that agues the approach should be that of substantial lessening of competition (SLC) test, and not the approach used in the EU which is the dominant market position approach. The second part of the paper then argues that this may not be the correct solution and looks at various issues of using the EU model. The bibliography cites 5 sources.
Page Count:
12 pages (~225 words per page)
File: TS14_TEEUUSmerg.rtf
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Unformatted sample text from the term paper:
corporate desires not all mergers or acquisitions will be allowed to take place due to a range of different legislative tools that protect competition and prevent uncompetitive practices or scenarios
emerging. In looking at the article sent the student; Streamlining International Merger Review, there is an outline given of the complex sets of rules that regulate merger activity. Looking
at this we can summarise the article before discussing its contents. The article starts with an example of the problem of streamlining mergers. The European Commission decision to prevent
the acquisition of General Electric by Honeywell. The merger had been approved by the United States Justice Department, and as such it was not seen by the US authorities and
distorting the competitive environment. However the EU Commission did not agree, they stated it would "create dominant positions in several markets and that the remedies proposed by
GE were insufficient to resolve the concerns resulting from the proposed acquisition of Honeywell". Therefore, there is the initial illustration of conflicting
methods of assessing if there is an anti competitive move, or is a merger or acquisition will result in a distortion of the market. The result of this rejection
by the European Commission prevented the acquisition taking place, but this shows the way that decision may take place very differently, with differing terms of reference and little integration between
the relevant authorities. In the case of Honeywell and GE the decision that prevented the acquisition took eight months following the initial
announcement, and as such we can also see the time scales involved, creating delays and inefficiencies. Mergers and acquisitions have been increasing and the 1990s sees a major increase
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