AMBIGUITY AND DISCRETION IN THE NEW GUIDELINES: SOME IMPLICATIONS FOR PRACTITIONERS

Practitioners who work with the 1992 Merger Guidelines1 tend quickly to focus their attention on two central issues: how does one cope with the Guidelines' ambiguities and uncertain elements when advising a client, and how can one take advantage of those ambiguities and elements during dealings with the government? In attempting to offer some perspective on those issues, I divide this article into four parts.