Transnationale fusioner: En komparativ analyse af fusionskontrol i EU og USA

Emilie Krogh Hansen & Nikoline Stokkendal Sneholt

Student thesis: Master thesis

Abstract

The purpose of this thesis is to make a comparative analysis of the EU and US merger rules and to identify the differences in the ways mergers are considered within these two jurisdictions. Globalization has generated an increase in international mergers as firms seek to strengthen their positions for strategic advantage. However, the process of getting a transnational merger approved has proven to be extensive, as transnational mergers are often subject to more than one jurisdiction’s competition law. This has led to increased regulation, which is further complicated by disagreements among the different jurisdictions on how to appraise mergers. This thesis will try to identify those differences by looking into historical events and by examining the different procedural approaches that the countries have implemented; such as different substantial tests.
Besides analyzing on how mergers are being regulated within EU and US, this thesis will try to describe the underlying economic rationale behind the law. This will contribute to a better understanding of how the law is interpreted and applied within several jurisdictions. It will be examined what position in the market, an undertaking with market power has. It will also be discussed what market consequences such a position entail. The analysis will try to be critical of the common belief that great market power is consistently bad for society and will try to accentuate the merits of big businesses.
Furthermore, this thesis will try to assess if the current merger rules are effective from society’s perspective. In addition, the possibilities for alternative legislation will be illuminated based on what the legal and economic analysis find.

EducationsMSc in Commercial Law, (Graduate Programme) Final Thesis
LanguageDanish
Publication date2019
Number of pages131