A team of CRA competition economists advised parties to the merger of Hammerson and Grand Central Shopping Centre, two adjoining shopping centers in Birmingham. The CMA cleared the merger unconditionally at Phase 1, finding other retailers in Birmingham City Centre would provide sufficient competitive restraint post-merger. CRA economists provided economic assistance to support the merger, including an analysis of the two-sided (tenants and shoppers) nature of the market and the design of a customer survey.
Response to the European Commission’s targeted consultation on revising its merger guidelines
Their recommendations include: Using simultaneous vGUPPIs to account for feedback effects between raising rivals’ costs (RRC) incentives and elimination of...