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Tethering Vertical Merger Analysis

BY | April 27, 2022

Antitrust practitioners are mis-applying simple vertical merger screening techniques (e.g. vertical foreclosure arithmetic, price pressure analysis) to reach flawed and internally inconsistent conclusions about vertical mergers. Specifically, practitioners have struck…

Antitrust practitioners are mis-applying simple vertical merger screening techniques (e.g. vertical foreclosure arithmetic, price pressure analysis) to reach flawed and internally inconsistent conclusions about vertical mergers. Specifically, practitioners have struck on a formula for claiming harm from vertical mergers: They argue that relatively low upstream margins mean that, post-merger, the merged firm has an incentive to disadvantage rivals’ access to the upstream product thus driving mo

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