Amazon/Deliveroo: Dynamic Counterfactual Analysis and the Failing-Firm Defence

Amazon/Deliveroo: Dynamic Counterfactual Analysis and the Failing-Firm Defence

The economic and financial impact of the Covid-19 pandemic foreshadows an increase in the number of deals where the so-called “failing-firm defence” (“FFD”) might come under discussion, as recently demonstrated by the provisional clearance of Amazon’s investment in Deliveroo by the Competition and Markets Authority (“CMA”). This blogpost addresses the interplay between the FFD and dynamic counterfactual analysis, in light […]

Are settlement proceedings the poor relation of EU antitrust policy?

Are settlement proceedings the poor relation of EU antitrust policy?

Leniency and settlement policies are crucial antitrust enforcement tools. They reward defendants’ cooperation and seek to reinforce effectiveness in law enforcement by replacing a non-cooperative equilibrium with a more cooperative dynamic between defendants and competition enforcers. As recently acknowledged by the OECD, settlements are picking up, and becoming an essential aspect of antitrust enforcement. Accordingly, a significant challenge of every […]