American Trustbusters Spoil Steelmakers' Fun
Article Abstract:
The United States Department of Justice has refused to approve a merger between LTV Corp. and Republic Steel. The Assistant Attorney General ruled the merger would violate antitrust laws. The companies argue that a merger would cut costs by over $300 million annually. The United States Department of Justice claims other alternatives exist for reducing costs. A proposed merger between U.S. Steel and National Steel is still under review. An industrial analyst proposes that the large integrated steelmakers reduce costs by specializing in a smaller number of products. Some companies are beginning to develop in this direction. More agreements among international steelmakers are being made.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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Congress Cooks Up Trouble for America's Trustbusters
Article Abstract:
The United States Congress is considering a proposed six-month ban on takeovers of the country's fifty biggest oil and gas companies while federal officials research the long term negative and positive effects of such mergers. Several other bills dealing with takeovers have been proposed. Oil company executives will be testifying before congressional committees. Two recent proposed steel company mergers were not approved by the Justice Department because too-high market shares in some steel products would have resulted.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1984
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Trusting the Markets More and the Trustbusters Less
Article Abstract:
The theoretical basis of American antitrust law has dramatically changed over the last fifteen years. The recent antitrust cases against IBM and AT&T settled by the administrator's antitrust chief William Baxter, exemplify these policy shifts. An analysis of how these changes affect the following major areas of antitrust law is given: mergers, vertical restraints, monopolies and horizontal restraints. The University of Chicago professors of law and economics are at the forefront of developing antitrust theory.
Publication Name: Economist
Subject: Economics
ISSN: 0013-0613
Year: 1983
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