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Mico Mao has significant experience analyzing alleged anticompetitive conduct as well as competitive effects and efficiencies of mergers and acquisitions. Dr. Mao has assisted testifying experts through all phases of litigation. She has provided empirical and theoretical analysis across a variety of industries, including chemicals, consumer products, software, and telecommunications.

Dr. Mao received her PhD in economics from the University of Wisconsin Madison, where her research applied both reduced form and structural econometric methods to investigate mergers’ impact on prices and product portfolios.


PhD, Economics, University of Wisconsin – Madison

MS, Economics, University of Wisconsin – Madison

BA, Economics (summa cum laude), Colorado State University

Selected Work

Selected Experience

  • On behalf of VMware, in conjunction with its $61 billion acquisition by Broadcom, supported the merging parties’ advocacy efforts primarily focused on vertical theories of harm investigated by antitrust authorities of various governments. The transaction closed in 2023.
  • Submitted a declaration on behalf of a defendant regarding an alleged agricultural output withholding conspiracy.
  • Supported the testimonies of the expert in analyzing US sugar market for U.S. Sugar’s proposed acquisition of Imperial Sugar.
  • On behalf of a group of state attorneys general litigating to block the merger of Sprint and T-Mobile, supported the testimonies of outside experts.
  • On behalf of Change Healthcare, in connection with its proposed $13.8 billion merger with UnitedHealth Group, supported the merging parties’ advocacy efforts and competitive analysis.
  • Analyzed the competitive effects of Sika’s acquisition of MBCC Group on behalf of Sika. The transaction closed in 2023.
  • Analyzed DIC’s acquisition of BASF’s global pigments business in the United States. The transaction closed in June 2021.
  • Worked with the expert to assist Rite Aid in clearing its acquisition of Bartell Drugs before the Federal Trade Commission and the Washington State Attorney General’s office. Both agencies closed their investigations without a Second Request.
  • On behalf of Ensco and Rowan, two offshore drilling firms, supported the expert to provide economic analysis of the likely effect of their proposed merger on rig provision in the US portion of the Gulf of Mexico.
  • On behalf of Pandora, supported the expert to provide economic analysis focusing on issues of cross-ownership as related to Sirius XM’s acquisition of Pandora. The DOJ approved the merger without issuing a Second Request.
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