9 Non-Horizontal Mergers

9.01 Non-horizontal mergers are mergers between companies active in different markets.1 Such mergers do not entail the immediate loss of direct competition and may have pro-competitive effects. In contrast, horizontal mergers have as a direct impact an increase in market concentration and are likely to lead directly to increased market power for the combined parties. Further, it is likely that this could be translated in higher equilibrium prices. 9.02 Non-horizontal mergers do not normally have as an impact a change in concentration in any given market, and both...