HORIZONTAL MERGER POLICY- SOME MODEST PROPOSALS TO AMELIORATE THE CHAOS IN THE COURTS

The problems created by this extreme diversity of judicial approach are enhanced by the multiplicity of sources of possible legal challenges to mergers including the Justice Department, the FTC, state enforcement authorities, third-party competitors, takeover targets, customers, shareholders instituting derivative actions, and possibly others. As a result, the situation today may fairly be characterized as being in disarray.