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Mergers and Acquisitions - Chapter 11 - International Antitrust Law & Policy: Fordham Corporate Law 2001
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International Antitrust Law & Policy: Fordham Corporate Law 2001 - Hardcover International Antitrust Law & Policy: Fordham Corporate Law 2001 - PDF ____________________________________________________________________________________ Preview Page Chapter 11
MERGERS AND ACQUISITIONS
Presider: Ronan P. Harty Davis Polk & Wardwell,
New York
Panelists: Rachel Brandenburger Freshfields Bruckhaus
Deringer, Brussels
Go¨tz Drauz Director, Merger Task Force,
EC Commission, Brussels
Richard Gilbert Department of Economics,
University of California at
Berkeley
William E. Kovacic General Counsel, Federal
Trade Commission,
Washington
John Vickers Director General, Office of
Fair Trading, London
MR. HARTY: I would like to welcome you to the afternoon session here at
the Fordham conference. I hope you had just the right amount of wine for
lunch. I would also like to thank his Holiness, Barry Hawk, for asking me to
do this.
We meet at a time when, I think it is fair to say, mergers and acquisitions
are not at a crossroads, but things are a little different than they were not too
long ago. Obviously, global M&A activity is down dramatically; we have had
a change in Administration and in the heads of the federal antitrust agencies
here in the United States; we have seen, or maybe we have seen, some
important substantive differences between the United States and the
European Union in the analysis of at least some types of mergers; and the
European Union obviously continues to review the procedural and substantive
aspects of the Merger Regulation.
But I don’t think that anyone—or, at least, I hope no one—is predicting the
death of mergers or of the antitrust analysis of mergers. Indeed, in the last
two days you may have seen that, between them, the FTC and DOJ
prohibited three mergers, including protecting the rum drinkers of the
United States, and in the last month the European Union has blocked two
mergers. So clearly, activism,—or at least activity, continues.
About the Editor:
Barry Hawk is Director of the Fordham Corporate Law Institute and Partner with Skadden Arps (New York and Brussels). He is former Vice Chair of the ABA Antitrust Section and former Chair of the New York State Bar Association Antitrust Section, as well as Professor at Fordham Law School and Visiting Professor at Michigan Law School, Monash University Law School, New York University Law School and the University of Paris.
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