ABSTRACT
Mergerpolicyhasundergonemanychangesduringthe75years sincetheClaytonActwasadoptedin1914.Mostcommentators nowrecognizethathorizontalcombinationsarethemajorconcern ofantitrustauthorities. 1Reflectingthisview,thelatestrevisionsto theDepartmentofJustice[DOJ]MergerGuidelinesissuedin1982 and1984placeenforcementemphasisonhorizontalmergers.2
