State Created Barriers to Exit: The Example of the Acquisition of Alstom by General Electric

Nicolas Petit, March 20, 2016

This paper seeks to understand the competitive impact of State restrictions to M&A transactions that target domestic corporations. In the economic literature, a rich body of papers has examined the impact of State restrictions in terms of market access, international trade and FDI. In contrast, the consequences of State restrictions in terms of economic competition remain poorly understood. To discuss the competitive effects of State restrictions to M&A transactions that target domestic firms, the present paper offers a case study of the takeover of the Fr…

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