The Research On Merger Remedy

Merger control system is an important part of antitrust.In antitrust practice, neithethe prohibition nor total laissez-faire blindly to corporate merger can protect the free competition order in the market very well. Because it makes a good banlence between the economies of scale and vitality of competition,and merger remedies system is welcome to enterprise and competition authorities as a compromising system.Merger remedy means that the authorities add the restrictions in certain circumstances to approval of business merger when a merger or proposed merger is likely to prevent or lessen competition substantially in one or more relevant markets. Its concrete manifestation in different countries are varied. The economic theory basis of merger remedy system is Industrial Organization Theory. The system has special value both in guaranteeing the economies of scale and vitality of competition and promoting the optimization of the industrial structure,and therefor the syetem has been widely applied in the antitrust practice.There are three conditions for merger remedy:merger meets the standards of antitrust review; the merger will bring competition and the competition issues can be prevented. There are different situations in different countries about the subject and the stage of this system, in some countries it can be applied at all stages of the review, but in the other countries it must be in further review period.There are three types of merger remedies:structural remedies, conduct remedies and mixed remedies. Because of the Obvious advantages such as that the performance period is short and the effect is complete, the application of structural remedies are preferred in practice.Its main content includes divestiture in terms of the choice of buyer's, the transition period, the trustee, hold separated, the backup provisions and prohibition and so on. There are certain cases in which the structural remedies can not be used, it is need to use conduct remedies as a kind of additional metheod. The major measures of conduct remedies include firewall provisions;fair dealing provision;stransparency provision and so on.Currently, a relatively sound institutional framework for merger remedies has been established in the EU and the United States, and there are plenty of the relevant laws and regulations discussed in the works. In contrast, China has just shown the signs of merger remedies and has a big gap with them both in legislationand practical level. China has just started this system and is lack of the supporting measures. With the promulgation of relevant legal documents, our system of merger remedies are also maturing. But there are still problems such as that the structural remedy system is not improved, condut remedial systems is missing, supervision of the implementation mechanism is imperfect, and the decision is lack of economic analysis and so on. Therefor,we should make full use of economic tools to analyze market, improve the criteria for judging the effectiveness of remedial measures, constantly improve the supervision and implementation mechanisms to establish improved structural remedy system and flexbile behavior remedy system in the future of antitrust practice,and provide useful guidance for the control system of concentration of business operators in our country.