The law-study analyzes the determinants of the legality of horizontal mergers under both the specific-anticompetitive-intent test of illegality promulgated by the Sherman Act and Article 101, the lessening-competition test of illegality of the Clayton Act and the EMCR, and the variant of the lessening-competition test of illegality promulgated by Article 101.
The law-study's positive analysis of the legality of horizontal mergers under the lessening-competition test that I believe the Clayton Act and the EMCR promulgate points out (59) that many of the effects of such mergers that are associated with Sherman-Act-illicit profits--viz.
Address for correspondence: Alex van Belkum, Erasmus University Medical Center Rotterdam EMCR
, Department of Medical Microbiology and Infectious Diseases, Dr.
EGShares Emerging Markets Core ETF trades on NYSE Arca under the ticker symbol EMCR.
For more information on EMCR, please visit http://www.
The original EMCR
was promulgated as Council Regulation 4064/89 on the New Control of Concentrations Between Undertakings, OJ L395/1 (1989).
competition law of mergers or full-function joint ventures because the EMCR prohibits such transactions if they "would significantly impede effective competition .
I should add that the EC makes a somewhat-analogous error--it analyzes the legality of horizontal mergers only under the EMCR, not under Article 101.