Abstract
The European Commission's recent decision to block the US $42 billion proposed merger between General Electric Co. and Honeywell International Inc. was, as breathlessly reported by the international press, a tale of personalities, high politics, and conflicting ideologies. The respective story lines made for gripping journalism concering the clash between a world business icon and a former Italian economics professor, the US administration's accusations of illegitimate application of extraterritorial jurisdiction and undemocratic exercise of authority by the Commission, the Commission's counter-accusations of attempts at political interference, and the dispute over divergent theories of competitive markets. (Indeed, the events may be worthy subject matter for a sequel to “Antitrust”, a dramatization of the Microsoft antitrust case now playing in theatres).
Published Version
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