美国最新横向并购指南解析及对中国的启示  

The Analysis of the Latest Horizontal Merger Guidelines of America and Its Enlightenment to China

作　　者：吴汉洪[1] 周德发[1] 

机构地区：[1]中国人民大学经济学院,北京100872

出　　处：《云南财经大学学报》2012年第1期101-107,共7页Journal of Yunnan University of Finance and Economics

摘　　要：美国最新横向并购指南于2010年8月发布。相对于1992年版的并购指南的6章,新指南增加了7章。这其中既有将原来的并购指南所涉及到的内容加以分章详细表述,也有完全新增的章节,同时对于原有的章节也进行了修改或加以重新表述。新指南明确提出了不利的竞争影响的证据;修改了考察并购市场集中度的门槛值;具有更强的操作性;考虑了买方垄断问题;反映了与其他国家或地区的竞争执法机构在横向并购反垄断审查工作中的趋同。对中国而言,应抓紧制定中国的横向并购指南,并确立经济分析导向。The latest Horizontal Merger Compared with the old Guidelines of 1992, the original five chapters to seven chapters Guidelines of America was issued in August, 2010. the contents of the new Guidelines are enriched from The new Guidelines divided the old version into more chapters with more explanations, revisions and redefinitions, and some new chapters were added. The new Guideline is more applicable by providing proves that are bad to competition, investiga2 ring the threshold of merger market concentration, taking buyer monopoly into consideration, and showing the convergence of the competition law enforcement authorities of different countries and regions in their anti - monopoly examination work of horizontal merger. It is an emergency for China to establish its own horizontal merger guidelines and set up economic analysis orientation.

关 键 词：横向并购 指南 反垄断 经济分析 

分 类 号：F171.242[经济管理—世界经济]