Quantitative Merger Analysis: Inside the Black Box and Before the Decision Makers
Panel sessions
Methods for Quantifying Merger Effects: What Are They & How Do They Work?
Wayne Dale Collins, Partner, Shearman & Sterling (Moderator)
Daniel Hosken, Deputy Assistant Director, Bureau of Economics, Federal Trade Commission
Aviv Nevo, Professor of Economics and Marketing, Northwestern University
Scott Thompson, Partner, Bates White Economic Consulting
Keith Waehrer, Partner, Bates White Economic Consulting
This panel will highlight for attorneys some of the key quantitative methods used for merger analysis with a focus on how best to apply these methods and produce useful results. For each method, the panelists will discuss the objectives, assumptions, data requirements, and strategies to successfully communicate these methods to decision makers. Techniques to be covered include:
- UPP and the role of efficiencies
- Methods of merger simulation without demand estimation
- Econometrics-based simulation methods
-
Event studies
Click here for Dr. Thompson′s presentation and here for Dr. Waehrer′s presentation.
Quantitative methods in practice: before agencies and courts
Clifford Aronson, Partner, Skadden, Arps, Slate, Meagher & Flom
George Rozanski, Partner, Bates White Economic Consulting (Moderator)
Howard Shelanski, Professor of Law, Georgetown University; Counsel, Davis Polk
Jeane Thomas, Partner, Crowell & Moring
James Tierney, Chief, Networks and Technology Enforcement Section, Department of Justice
This session will focus on real-world implementation of economic analysis in merger cases before the agencies and courts. Based on personal experience, panelists will share their insights about how quantitative analysis fits into the big picture of case strategy, the level of complexity that courts and agencies can effectively process, how to characterize results and effectively present them, how to anticipate and deflect possible criticisms, and how to give comfort in the robustness of the results. Specific topics to be addressed include:
- Express Scripts/Medco case
- H&R Block/TaxAct case
- Pioneer Hi-Bred/Pannar Seed case
- Agency expectations and use of UPP or simulation analysis
- The legal perspective on presenting quantitative evidence to courts
Keynote
Exclusive Dealing—Having and Getting, in Dentsply and Beyond
Joseph Farrell, Director, Bureau of Economics, Federal Trade Commission; Professor of Economics, University of California, Berkeley
Location and timeline
Ronald Reagan Building
1300 Pennsylvania Avenue NW
Washington, DC 20004
Registration
2:30–3:00 p.m.
Horizon Room
Panel Sessions
3:00–6:00 p.m.
Horizon Room
Reception
6:00–7:00 p.m.
Rotunda Room
Dinner and keynote address
7:00–9:30 p.m.
Rotunda Room
RSVP
Registration is complementary. To attend, please email Claudine Hoover or call her at 202.216.1801.
