The legal issues that relate to mergers and acquisitions (M&A) of businesses.

In a paper available at the Social Science Research Network, Professor Lawrence J. White of the New York University's Stern School of Business discusses the Merger Guidelines.  In Horizontal Merger Antitrust Enforcement: Some Historical Perspectives, Some Current Observations, Professor White suggests that studies should be conducted to determine "whether current antitrust enforcement is too strict or too lenient with respect to mergers."

Professor White begins by describing the "historical context in which the Guidelines were developed."  He suggests that the Guidelines' focus on "seller concentration" is appropriate, focusing on certain studies that, although worthy of some criticism,  deserve "some weight."

According to Professor White, these "studies do not provide us with general guidance as to where antitrust enforcement should bite and thus whether current enforcement practice is generally too lenient or strict."  He suggests "two lines of research that potentially could provide such guidance:" "studies of post-merger pricing in the markets of the mergers that were allowed to proceed" and a "'meta analysis' of all of the extant price-concentration studies."