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Academic Articles Awards > Cross-border Issues

Philadelphia National Bank, Globalization, and the Public Interest

Harry First and Eleanor Fox, 80 Antitrust Law Journal No. 2, 2015

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Interestingly, the U.S. rejection of the relevance of public interest factors to antitrust merger policy actually makes the United States somewhat of an outlier in the international community. Many countries around the world today take account of public interest factors when evaluating mergers, not by farming them out to sectoral regulators but by providing for their consideration within the context of merger analysis. In this article, we take a new look at these factors and their role in merger analysis. To do so we focus on two contrasting cases—the U.S. Supreme Court’s foundational Philadelphia National Bank decision and the more recent litigation in South Africa involving Wal-Mart’s acquisition of Massmart, a South African firm.

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