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Merger Antitrust Law (2020)

Dale Collins
Georgetown University Law Center

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    I

 

This page contains the memorandum introducing the course, class schedule, reading materials, and class notes for the Merger Antitrust Law course taught during the 2020 fall semester at Georgetown. It also contains links to related supplemental materials on the Applied Antitrust web site. There is no textbook for this course. Everything you need will be linked to this page.

Memorandum introducing the course

Class schedule 1.0 (revised August 6, 2010)--SUBJECT TO REVISION BEFORE CLASSES BEGINS

 
 
Required Reading
Comments and Optional Reading

Unit 1

Introduction to Merger Antitrust Law: Substance and Process

 

Class 1

Tuesday, September 1

Introduction
TransDigm/Takata

Memorandum introducing the course

Class schedule

Using Zoom for class

Class 1 reading guidance

Unit 1 reading materials

Merger Antitrust Law: Introduction to Substance and Process (class notes)

Class 1 homework assignment

Antitrust Law: Hornbooks and Other Antitrust Study Aids

Demand curves and consumer surplus (YouTube videos):

Marginal Revolution University, The Demand Curve

Marginal Revolution University, A Deeper Look at the Demand Curve

Marginal Revolution University, What Is Deadweight Loss?

 

 

Unit 2

Predicting Merger Antitrust Enforcement Challenges

 

Class 2

Thursday, September 3

Predicting merger antitrust enforcement challenges
DOJ/FTC 2010 Horizontal Merger Guidelines

Class 2 reading guidance

Unit 2 reading materials

Predicting Merger Antitrust Enforcement Challenges (class notes)

Class 2 homework assignment

U.S. Dep't of Justice & Fed. Trade Comm'n, Horizontal Merger Guidelines (rev. Aug. 19, 2010)

Evolution of the Merger Guidelines

 

Unit 3

The DOJ/FTC Merger Review Process

For additional supplemental materials, see 13. DOJ/FTC Merger Review and Settlement Procedures in AppliedAntitrust.com

Class 3

Tuesday, September 8

 

Class 3 reading guidance

Unit 3 reading materials

The DOJ/FTC Merger Review Process (class notes)

Class 3 homework assignment

 

Premerger notification

Hart-Scott-Rodino Act, Clayton Act § 7A, 18 U.S.C. § 18a (Premerger notification and waiting period)

HSR form instructions (June 7, 2019)

Second request investigations

DOJ Model Second Request (Nov. 28, 2016)

FTC Model Second Request (August 2015)

Other supplemental materials

± FTC Merger Review web page

± DOJ Merger Enforcement web page

DOJ and FTC, Annual Report to Congress for Fiscal Year 2018

Makan Delrahim, It Takes Two:Modernizing the Merger Review Process, Prepared Remarks Before the 2018 Global Antitrust Enforcement Symposium, Washington, DC (Sept. 25, 2018)

Case study for homework assignment

Albertsons/Safeway case study (complete)

Unit 4

Merger Antitrust Litigation and Settlements

For additional supplemental materials, see 14. Merger Antitrust Litigation and 15. DOJ/FTC Merger Review and Settlement Procedures in AppliedAntitrust.com

Class 4

Thursday, September 10

Litigation

Settlements

 

Class 4 reading guidance

Unit 4 reading materials

Unit 4A. Merger Antitrust Litigation (class notes)
Unit 4B. Merger Antitrust Settlements (class notes)

There is no homework assignment for this class

 

The Course of Litigation: EnergySolutions’ Acquisition of Waste Control Specialists (Nov. 16, 2016)

Albertsons/Safeway case study (complete)
TransDigm/Takata case study (complete)

Agency materials: FTC

Fed. Trade Comm'n, The FTC’s Merger Remedies 2006-2012: A Report of the Bureaus of Competition and Economics (Jan. 2017) (FTC news release)

Dan Ducore & Naomi Licker, Bureau of Competition, Fed. Trade Comm'n, Looking Back (Again) at FTC Merger Remedies (Feb. 3, 2017)

Fed. Trade Comm'n, Bur. of Competition, Frequently Asked Questions About Merger Consent Order Provisions (downloaded August 8, 2019)

Deborah L. Feinstein, Dir., Bureau of Competition, Fed. Trade Comm'n, The Significance of Consent Orders in the Federal Trade Commission’s Competition Enforcement Efforts (Sept. 17, 2013)

Agency materials: DOJ

Makan Delrahim,Ass't Att'y Gen., U.S. Dep't f Justice, Antitrust Div., Improving the Antitrust Consensus, Prepared Remarks Before the New York State Bar Association Antitrust Section, New York, NY (Jan. 25, 2018)

U.S. Dep't of Justice, Antitrust Div., Antitrust Division Manual Ch. 4 D: Negotiating and Entering Consent Decrees (5th ed. updated Mar. 2014)

U.S. Dep't of Justice, Antitrust Div., Antitrust Division Policy Guide to Merger Remedies (rev. June 2011) (news release)

Other materials

Jonathan M. Jacobson, Issues in Antitrust Consent Decrees, Presented to the Department of Justice Antitrust Division (Apr. 26, 2018)

Unit 5

Hertz/Avis Budget/Dollar Thrifty

 

Class 5

Tuesday, September 15

The 2010 Hertz/Dollar Thrifty deal

 

 

 

 

Class 6

Thursday, September 17

Antitrust considerations and the merger agreement

The bidding war with Avis
FTC review and settlement
Aftermath

 

 

 

Unit 6

A Case Study Problem: Atlanta Newspaper Merger

 

Class 7

Tuesday, September 22

 

 

 

 

 

Unit 7

Competition Economics

 

Class 8

Thursday, September 25

Part 1. Demand, Costs, and Profit-Maximization

 

 

 

Class 9

Tuesday, September 29

Part 2. Markets and Market Equilibria

 

 

 

 

 

Wednesday, September 30

Optional economics review session

 

Unit 8

Sanford Health/Mid Dakota Clinic

.

Class 10

Thursday, October 17

Analysis of the Eight Circuit's opinion

Institutional setting

Relevant product markets

Relevant geographic markets

The PNB presumption

 

 

 

 

Class 11

Tuesday, October 6

Analysis of the Eight Circuit's opinion

Power buyers defense

Entry defense

Efficiencies defense

 

 

Unit 9

H&R Block/TaxACT

 


Class 12

Tuesday, October 8

H&R Block/TaxACT

Institutional setting

Market definition

 

 

Class 13

Thursday, October 15

Market definition

 

 

Class 14

Tuesday, October 20

Coordinated Effects

 

 

 

Class 17

Thursday, October 31

Unilateral effects

 

 

Class 18

Tuesday, November 5

Unilateral effects

Efficiencies defense

 

 

 

Wednesday, November 6

Market definition

Optional review session

 

Class 19

Thursday, November 7

Catchup and review of homework assignment

 

 

Unit 11

Sysco/U.S. Foods

 

 

Class 20

Tuesday November 12

Analysis of the district court opinion

Targeted customers

Second price auction theory of unilateral effects

Power buyer defense

 

 

 

 

Wednesday, November 13

Anticompetitive effects

Downward-pricing pressure defenses

Optional review session

 

Unit 12

Staples/Office Depot

 

Class 21

Thursday, November 14

Analysis of the district court opinion

 

 

Graded Homework Assignment

 
 

Posted Friday, November 6

Due Wednesday, November 18

 

 

Unit 13

Short Horizontal Cases

 

 

Class 22

Tuesday, November 19

Analysis of short case studies

ABI/Grupo Modelo

Heinz/Beech-Nut

Adobe/Aldus

 

 

Class 23

Thursday, November 21

Analysis of short case studies

SGI/Alias/Wavefront

Energy Solutions/Waste Control Specialists
(failing company defense)

Dollar General/Dollar Tree/Family Dollar

Sirius/XM

Boston Scientific/CVIS

 

 

 

 

Unit 14

Potential Competition Mergers

 

Class 24

Tuesday, November 26

Mylan/Perrigo

Medtronic/Covidien

Mallinckrodt (Questcor)/Novartis

Steris/Synergy Health

Nielsen/Arbitron

Akron/VersaPharm

   

Unit 15

Vertical Mergers

   

Class 25

Wednesday, December 4

General Electric/Avio

Comcast/NBCUniversal

AT&T/Time Warner

   

Class 26

Thursday, December 5

AT&T/Time Warner (con't)

Coca-Cola/Coca-Cola Enterprises

   

Unit 16

Sabre/Farelogix

   

Class 26

Thursday, December 3

Analysis of the district court opinion

   

 

Final Review Session (optional)

 
 

Friday, December 4

 

Optional review session

 

 

FINAL EXAM

 

 

 

Tuesday, December 10 –
Thursday, December 19

5-hour
Open book
Take home