8th Global Merger Control Conference #2 Non-horizontal mergers: Towards a change of analysis?

2nd Webinar of the « 8th Global Merger Control Conference » organised by Concurrences, in partnership with Dechert and Frontier Economics, with Joel Bamford (Senior Director for Mergers, UK CMA), Luis Campos (Associate Director, Frontier Economics), Etienne Chantrel (Head of Mergers Unit, Autorité de la concurrence), Mike Cowie (Partner, Dechert), Jonathan Sage (Government and Regulatory Affairs Executive, IBM), Kelly Signs (Deputy Assistant Director of the - Office of Policy Coordination, FTC), Clemens York (Partner, Dechert) and Hans Zenger (Merger coordinator - Chief Economist Team, DG COMP).

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Clemens York and Mike Cowie explained that understanding non-horizontal mergers may be easier through examples. In the first scenario, a major ice-cream manufacturer acquires a large chocolate chips producer. In that case, there may be potential input foreclosure for other ice-cream manufacturers. A second scenario could result in output foreclosure or distribution foreclosure. For instance, a major ice-cream producer would acquire a supermarket company and would then exclude competing ice-cream manufacturers from its distribution system. A third scenario helps to understand why non-horizontal mergers do not only cover vertical transactions. One could think of a transaction between an ice-cream manufacturer and cookie manufacturer. Although there is no vertical relationship, there could be a threat to competition through other means such as tying of products. These are conglomerate mergers.

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  • US Federal Trade Commission (FTC) (Washington)
  • United Kingdom’s Competition Authority - CMA (London)
  • French Competition Authority (Paris)
  • Dechert (Washington)
  • Dechert (Brussels)
  • IBM (London)
  • DG COMP (Brussels)
  • Frontier Economics (Paris)