Merger Mania and C&G

Abstract

In the last decade, hostile takeovers have become prevalent in the corporate world and have generated much controversy in the economics profession and in society at large. The so‐called “Chicago School” of Antitrust has offered the intellectual reasoning for a considerable loosening of antitrust laws which, particularly in the recent past, has gained the attention of both economists and journalists. The fourth wave of hostile and friendly takeovers in the US and UK has led many leaders of the business community and the public to question the desirability of takeover activity.