Disproving merger efficiencies

Disproving merger efficiencies

Mark E. Zmijewski
Antitrust & Competition | United States Antitrust | Mergers & Acquisitions

The US government retained CRA’s expert in a merger between two tax preparation companies. After an extensive analysis of the companies’ proposed merger efficiencies, the CRA expert concluded that these efficiencies were either not merger-specific or not verifiable, or both. Ultimately the court agreed with CRA’s expert and the merger was blocked.