TOTM
Market Definition and Margins in the New Guidelines
I’m still working through the 2010 Horizontal Merger Guidelines, and like Dan, I find myself puzzling over some of the revisions, and in favor of others. I wanted to start with some first impressions. The big movement here, is that the new HMGs repudiate the market definition requirement in the new Section 4 and in Section 6 on Unilateral Effects. Consider the language in Section 4 on market definition…