Revisiting the Merger Guidelines: Protecting an Enforcement Asset

What should we do with a magic wand? The revision of the merger guidelines offers an opportunity to update and improve the foundational texts of U.S. merger control, as well dangers. The guidelines’ status as a critical enforcement asset is a function of judicial confidence that the guidelines reflect the teachings of experience and a consensus that will endure across Administrations. Moreover, it is not at all clear that the text of the 2010 guidelines is really holding back federal merger en