Maureen Ohlhausen and Taylor Owings, partners in Wilson Sonsini’s antitrust and competition practice, co-authored a chapter featured in the new Concurrences book "The 2023 U.S Merger Guidelines: A Review," released in April 2024. The book offers a detailed exploration of antitrust law and economic policy through a comprehensive review of the 2023 U.S. Merger Guidelines.

In their chapter titled "The Missing Merger Guideline: On Efficiencies," Ohlhausen and Owings analyze the Guidelines' skeptical view on merger benefits, noting its implications for the analytical framework and business uncertainty. They also delve into research indicating productivity gains or “efficiencies” from mergers, consolidations, or vertical integrations. Despite certain evidence limitations, the authors ultimately dismiss the idea of significantly altering merger review, affirming that mergers are a valid mechanism for advancing procompetitive business objectives unless there are signs that it will result in increased prices or diminished innovation.

To access the entire book online, including the chapter by Ohlhausen and Owings, please click here.