The Public Interest and Competition-Based Scrutiny of Mergers: Lessons from the Evolution of Merger Control in the United Kingdom

This article is part of a Chronicle. See more from this Chronicle Alex Chisholm, Nelson Jung, Oct 15, 2014 Developments over the past few months have been described as a “volcanic rise in protectionist sentiments from national governments.” General Electric’s bid for Alstom as well as numerous recent takeover proposals in the pharmaceutical sector, in particular […]

OCT-14(1)

In this issue: Protectionist sentiments are becoming more significant in merger control considerations, especially in Europe. Can public interest exemptions or other protectionist considerations bring benefits that would justify potentially harmful side-effects from overriding competition-based analyses? Our first four papers, led by the U.K.’s new CMA, look to answer just that question. And the first paper in our […]

How the Proposed Payments Legislation Will Restrain Competition Among Payment Card Schemes and Harm Consumers in the European Union

This article is part of a Chronicle. See more from this Chronicle David Evans, Oct 15, 2014 The European Parliament, in early April 2014, endorsed and further extended draft legislation, originally proposed by the European Commission, which will impose sweeping regulation on payment card businesses. The backers of the legislation claim that it will nurture competition, innovation, […]

Pfizer/AstraZeneca and the Public Interest: Do U.K. Foreign Takeover Proposals Prescribe an Effective Remedy?

This article is part of a Chronicle. See more from this Chronicle David Reader, Oct 15, 2014 When U.S. pharmaceutical giant Pfizer sought to acquire its U.K.-listed counterpart AstraZeneca earlier this year, much discussion centered around the possible adverse impact that the merger could have on the U.K.’s science base, particularly in light of Pfizer’s […]

Protectionism in Merger Control: Is the Process of Merger Control Adequate to Consider Wider Public Interest Issues? Is it Now Time for CFIEU?

This article is part of a Chronicle. See more from this Chronicle Timothy Cowen, Oct 15, 2014 Whether a broader public interest test should apply to merger control has recently been discussed by Alex Chisholm, CEO of the U.K. Competition and Markets Authority, after being raised at Prime Minister’s questions during Pfizer’s attempt to acquire […]

Protectionism or Legitimate National Interest? A European Perspective on the Review of Corporate Acquisitions by Foreign Purchasers

This article is part of a Chronicle. See more from this Chronicle Rachel Brandenburger, Mark Jones, Oct 15, 2014 In Europe, the question of whether there is, or should be, a role for national interest considerations in the review of corporate acquisitions by foreign purchasers has made headline news several times this year. In the […]

Competition Policy in Selection Markets

This article is part of a Chronicle. See more from this Chronicle Neale Mahoney, Andre Veiga, Glen Weyl, Oct 15, 2014 One of the oldest arguments against both competition and the policies promoting it is the problem of cream-skimming. In selectionmarkets, like insurance and finance, where some customers are cheaper to serve than others, competitors […]