Research Handbook on Global Merger Control: Introduction and synopsis

Abstract

In this Research Handbook, we seek to better understand the complexities involved in the design of merger rules and the approach competition authorities take in applying them. It discusses how competition authorities are pursuing to find appropriate merger policies that can address the challenges imposed by the consolidation of market power, especially in the rapidly evolving digital sector. These challenges have on the one hand fuelled legislative proposals in different jurisdictions across the world, and to an adapted approach to enforcement advance both in terms of procedure (e.g., Article 22 referrals in the EU) as well as substance (e.g., market definition and unilateral effects analysis). Such an increase in market power has partly been caused by “killer acquisitions,” in which potential future competitors are acquired by large incumbents. The book also engages with the growing debate among policy makers and scholars about the relationship between antitrust and sustainability. Particularly, it tries to reflect on the extent to which merger policy can be a viable tool to fight climate change, and whether environmental considerations should be part of merger analysis. Further, it evaluates to what degree the state through tougher merger control and foreign investment rules can dictate the shape of domestic markets and curb global expansion and discusses the implications of such interventionist policies.