Our consultants and affiliated experts have experience working at or consulting for enforcement and regulatory agencies, including the Department of Justice, the Federal Trade Commission, the U.K. Competition Commission, the Federal Communications Commission, and other agencies around the world.
Our staff and experts are at the forefront of using sophisticated econometric demand models and merger simulation tools to analyze the likely competitive effects of a merger and any proposed divestitures. We draw on qualitative and quantitative evidence from multiple sources to provide understandable, coherent, and robust descriptions of relevant geographic and product markets, competitive effects, and other factors.
Econometric models reinforced by qualitative evidence such as ordinary course of business documents and fact witness testimony can provide a basis for credible and persuasive expert testimony. Our experts are adept at incorporating such evidence, helping to ensure that their analyses are consistent with industry realities and the way the merging parties think about how their consumers make choices.
|Big data and survey analysis
Cornerstone Research staff and experts regularly work with datasets containing billions of records. Clients frequently rely on us to compile large datasets from disparate sources and incompatible formats to address the economic issues that arise in mergers. We also have extensive experience in constructing surveys, analyzing market-based data, and critiquing survey methodologies.
Our staff and experts with financial statement or accounting expertise can provide valuable input in merger challenges where parties assert efficiency claims or “failing firm” defenses. Such analyses can include assessment of merger specificity and verifiability of claimed efficiencies. Our experts have been asked to assess a target firm’s financial condition, the risk of its key assets leaving the market absent the merger, and whether the firm has made good faith efforts to elicit reasonable alternative offers.