Editor's Note

The February issue discusses courts’ skepticism toward efficiencies evidence in merger cases and prescribes some practice steps merging parties can take to present a more persuasive efficiencies case at trial. Next it explores challenges U.S. authorities have had in vertical merger trials and discusses the benefits of making greater use of actual evidence of pre-merger actions instead of relying solely on forward-looking analysis. We also offer a review of a new research paper discussing the role of efficiencies and entry in merger analysis.