Mico Mao, PhD

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

• 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.
• 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 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 Express Scripts, supported the expert in analyzing possible concerns related to horizontal effects of its proposed merger with Cigna in markets for pharmacy benefit management services and Medicare Part D insurance. Analysis included a vertical merger simulation calibrated to market outcomes, which quantified effects on incentives and prices. Also undertook a retrospective analysis of the effects of previous vertical integration in the industry. DOJ cleared the $67 billion merger after a six-month review.
• 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.
• Supported the expert to provide an antitrust risk assessment of a potential acquisition in the software industry by a private client in 2018.
• Supported the testifying expert in a Copyright Royalty Board proceeding involving allocation of royalties.
• Worked on behalf of a sports broadcasting company during an international government investigation to evaluate claims of bid-rigging for broadcasting media rights and to develop a range of undercharges for particular tenders.