US Merger Guidelines: A comprehensive look at the draft

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SYNTHESIS

Sean SULLIVAN moderated the discussion. The 2023 draft merger guidelines demonstrate a clear shift towards structuralism compared to the 2010 merger guidelines. In recent years, structuralism has meant reliance on market concentration as an indirect measure of market competitiveness, but this is an evolution of prior expressions of structuralism in which concentration was opposed for no greater reason than that concentration was seen as be bad. It is difficult to tell whether the structuralism of the draft guidelines is of the modern type, the historic type, or something else.