Kostis Hatzitaskos discusses the significant role economics plays in merger cases across jurisdictions.
Economic analysis is central to assessing whether a merger will result in a significant lessening of competition (SLC) in the US and UK or a significant impediment to effective competition (SIEC) in the EU. The key challenge in all jurisdictions is to develop economic evidence that will be persuasive to the relevant decision makers. No matter the jurisdiction, the key test of economic evidence is whether it helps to fulfil the obligations of decision makers. Both agencies and courts find economic evidence useful when it:
- Is understandable to decision makers;
- Answers or informs the answers to relevant questions; and
- Is found to be worthy of evidential weight after detailed examination.
In this chapter, Kostis Hatzitaskos discusses each of these criteria, highlighting the strengths and weaknesses of various types of evidence that can be submitted in merger cases.
This chapter was originally published by Lexology in Getting the Deal Through—Merger Control 2020.
The views expressed herein do not necessarily represent the views of Cornerstone Research.