ABSTRACT
Unlike horizontal mergers, conglomerate and vertical mergers do not result in the elimination of direct rivals on the same level of the supply chain, and therefore could not increase market concentration. Different theories of injury to competition should therefore apply to these transactions. The purpose of this chapter is to address competition/antitrust law concerns relating to vertical and conglomerate mergers and acquisitions, particularly through the analysis of case law, relevant Guidelines and enforcement agencies’ approaches to these types of mergers.
