Almost exactly 3 years after issuing its horizontal merger guidelines, the European Commission published draft guidelines on the assessment of non-horizontal mergers (i.e. vertical mergers and conglomerate mergers). As the draft guidelines acknowledge, by virtue of bringing together complementary rather than substitutable products, nonhorizontal mergers – whether vertical or conglomerate – give rise to substantial scope for cost and price efficiencies and are …
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All Articles- RBB response to EC's draft Article 102 TFEU Guidelines
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