The Case of Merger Control v. Merger Deregulation
Chapter 3: Proposals for reform
This chapter addresses the adoption of reforming proposals that will mitigate, if not totally overcome, the drawbacks of the merger control systems, through the lens of cross-border mergers. The proposals will be classified into two main categories, namely modest proposals: (1) jurisdictional rules, (2) common online filling system, and (3) mutual recognition; and radical proposals: (1) bilateral cooperation agreements, (2) international merger control rules, (3) supranational premerger control institutions, and (4) merger deregulation. Each proposal will be explained and then assessed to identify its impact on reforming the merger control systems, and the assessment criteria will be based on the impact of the proposal in solving each of the previously identified drawbacks. The impact of the proposal will be evaluated according to six standards: (1) the effectiveness of the proposal, (2) the adequacy of its effect, (3) the expected time to realize the effect, (4) efficiency or whether the proposal requires additional resources to realize the expected effect, (5) the fairness of realizing the expected effect for all the parties, (6) the flexibility of changing or amending the proposal in the future if required. Assessing the aforementioned proposals will reveal that all the proposals could be useful in improving the current merger control systems; while some have minimal effect others are promising, and the merger deregulation proposal is the most promising solution, as it will significantly improve the current merger control systems by 87%.
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