Word: mergerer
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...unfairly, the mud stuck." One more lesson: the slow confirmation process in Washington has a cost. Had James been confirmed as antitrust chief at the Justice Department by March, say, regulators on both sides of the Atlantic would have been able to discuss the merger at a high level--and maybe come to common conclusions. As it is, Treasury Secretary Paul O'Neill has described the Commission's action as "off the wall," while James said the European decision "reflects a significant point of divergence" with American practice...
...ugly Americans. They are doing so because in a globalized world, the country where a company has headquarters matters much less than where it does business. If one person understands that truth, it's Jack Welch. Why, TIME asked Welch, should a European be able to shape a merger between two American companies? "That's the law," replied Welch. "That really is just the way the world works." We'd all better get used...
...Like other antitrust agencies, we make our assessment of a merger or antitrust case based on its impact on our jurisdiction and not on the nationality of the companies. This is exactly what the U.S. antitrust agencies do. There was a case last year where the merger between two E.U. companies [France's Air Liquide and Britain's BOC Group] was approved here and blocked...
...have seen a partial divergence on this case. That doesn't mean there was a right decision and a wrong decision. But take a merger that was larger than this one, AOL Time Warner [parent company of TIME]. There the European Commission authorized the merger well before the FTC did, and I would say with less heavy remedies...
...Monti is a gentleman--reserved, charming--but very formal. I don't know his inner soul. I do know his staff was hard over on this opinion [rejecting the merger...