Antitrust & Competition Policy Blog

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Levin College of Law

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Monday, November 25, 2013

Merger Policy at the Margin: Western Refining's Acquisition of Giant Industries

Nicholas Kreisle , FTC analyzes Merger Policy at the Margin: Western Refining's Acquisition of Giant Industries.

ABSTRACT: In May 2007 the Federal Trade Commission failed to win a preliminary injunction in U.S. District Court that would have blocked the merger of two refiners that served Albuquerque, NM and surrounding areas. This study compares estimates of the post-merger price effect to the price effects predicted by economic experts on both sides of the case. I find little scope to interpret the evidence as consistent with an anticompetitive post-merger price effect. I also highlight difficulties involved in econometrically identifying small effects even with an abundance of pricing data.

http://lawprofessors.typepad.com/antitrustprof_blog/2013/11/merger-policy-at-the-margin-western-refinings-acquisition-of-giant-industries-1.html

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