EFFICIENCIES IN MERGER CONTROL
Secretariat Presentation
17 June 2025
Paper Overview
• Context:
– Calls for expanding merger analysis beyond competition – e.g. Draghi report
– Claims that CAs do not accept efficiency claims often.
• Purpose of the paper:
– Revising current practice and recent developments
– Explore reasons why efficiencies as a defence are rare
– Discuss whether there is a need for changing the standard or scope of efficiencies reviewed.
Current practice and recent developments
• Type of efficiencies considered
• When are they considered?
• Relevant criteria for assessment of efficiencies
• Type of evidence and burden of proof
Why are efficiencies as a defence so rare?
How big is the sample?
Are CAs and courts predisposed?
Is there sufficient academic support?
How high are the standards of proof?
Are claims sufficiently substantiated?
Is there a need for change?
• Adjust the standard of proof or type of evidence required.
• Broaden the type of efficiencies considered.
– Out-of-market efficiencies
– Other economic policies or public interests
