Executive summary, by the Secretariat Considering the discussion at the roundtable, the delegates‘ written submissions and the Secretariat‘s background paper, several key points emerge: (1) The failing firm defence (FFD) may arise more frequently during financial and economic crises. During economic crises such as the one that most OECD countries are currently experiencing, more firms may find themselves in financial difficulty. Some financially distressed companies will seek to improve their condition by merging with healthier competitors. Competition agencies may therefore face an increasing number of merger reviews involving financially troubled firms, some of which may be true failing firms while others may simply be weak competitors. In some of the cases, parties may put the FFD
The OECD holds a roundtable on the failing firm defence
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