The Role of Uncertainty in the Future European Horizontal Merger Guidelines: Lessons Learned From Illumina/GRAIL

The European Commission has demonstrated in recent cases in dynamic and innovative industries that it is willing to undertake competitive assessments well into the future and hence subject to significant uncertainty.  Under these circumstances, it is however not entirely clear how the future competitive landscape will look like, merger effects cannot be modelled with a high degree of precision, and it is actually possible for harmful merger effects to materialize later than pro-competitive merg