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The situation is way more complicated than what you seem to have understood. From https://www.thebignewsletter.com/p/never-seen-anything-like-it-the-biggest htt
by yathaid 3y ago
The situation is way more complicated than what you seem to have understood. From https://www.thebignewsletter.com/p/never-seen-anything-like-it-the-biggest https://www.thebignewsletter.com/p/never-seen-anything-like-...:
> Last summer, I noted that it takes time for agencies to act, but that they had put a bunch of torpedos in the water, and they would be exploding over the next year and a half. That’s exactly what’s happened. And the consequences are real. The most significant one is that the merger boom that started in the 2010s is now over.
> You wouldn’t realize this success if you listen to the conventional wisdom in politics, because Wall Street is pushing a public narrative that antitrust agencies are losing in courts, and therefore they are losing their ability to stop deals. But this isn’t true, because if it were, you wouldn’t see regular reports from business publications lamenting the decline in deals, and writing things like “The average size of mergers completed is now at the lowest level in 20 years.” And you wouldn’t have deal-makers on CNBC calmly describing how hard it is to get mergers done.
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Progress is slow because the judiciary is stacked with ex corporate lawyers and lobbyists who will not interpret the law the way its written but have their own imaginary version based on the Chicago School of Economics' made up models on how the economy works.
- 7speter 3y agoAre mergers low because of DOJ “torpedoes” or because debt isnt as cheap as it was 3 years ago?
- deleted 3y ago[deleted]