Partial acquisition with an excluded public rival

Upward Pricing Pressure in Partial Acquisitions: Application to the Essilor Case

Asian Journal of Law and Economics ◽

10.1515/ajle-2016-0019 ◽

2016 ◽

Vol 7 (3) ◽

pp. 343-367

Author(s):

Yangsoo Jin

Keyword(s):

Asian Countries ◽

Price Effects ◽

Partial Acquisitions ◽

Partial Acquisition

Abstract The price effects of a partial acquisition may be far more complex than those of a full merger. The discussion on this issue, however, has not been well developed in Asian countries, including Korea. However, a partial acquisition case occurred in Korea in which Essilor intended to acquire fifty-percent shares of its competitor, DM Optical. In this paper, we modify and reorganize theories of upward pricing pressure (UPP) in partial acquisitions and apply them to this case. This paper, therefore, intends not only to initiate a discussion, but also to suggest an exemplary method to conduct UPP analysis in partial acquisition environments. Specifically, it will contribute to methodological advances by analyzing the case in a fashion that circumvents limitations of time and data, the main obstacles merger reviewers often face, in practice.

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VIII. Dr. Stein's Turkish Khuastuanift from Tun-huang, being a Confession-prayer of the Manichæan Auditores

Journal of the Royal Asiatic Society of Great Britain & Ireland ◽

10.1017/s0035869x00041502 ◽

1911 ◽

Vol 43 (2) ◽

pp. 277-314 ◽

Cited By ~ 3

Author(s):

A. V. Le Coq

Keyword(s):

The South ◽

European Science ◽

The Many ◽

Partial Acquisition

European science is indebted to Dr. M. A. Stein's industry for the remarkable document here published. It is one of the many valuable MSS. which fell to his lot through the partial acquisition in 1907 of an ancient library discovered, by a Chinese priest, in one of the Buddhist cave temples of the “Halls of the Thousand Buddhas” to the south-east of the Tun-huang oasis, as described by him in the Geographical Journal for September, 1909. Its excellent state of preservation, and the fact of its being written in the clear unequivocal letters of the Manichæan alphabet, renders this MS. a most valuable help to all interested in the study of the ancient Turkish speech in which it is edited.

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Rotated stack-of-spirals partial acquisition for rapid volumetric parallel MRI

Magnetic Resonance in Medicine ◽

10.1002/mrm.25863 ◽

2015 ◽

Vol 76 (1) ◽

pp. 127-135 ◽

Cited By ~ 11

Author(s):

Weiran Deng ◽

Benjamin Zahneisen ◽

V. Andrew Stenger

Keyword(s):

Parallel Mri ◽

Partial Acquisition

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Legislative Note: Regulation 5(9) of the Combination Regulations under the Competition Act, 2002

Christ University Law Journal ◽

10.12728/culj.7.11 ◽

1970 ◽

Vol 4 (2) ◽

pp. 197-204

Author(s):

Chauhan Deo Singh Krishna

Keyword(s):

Sources Of Information ◽

Secondary Sources ◽

Competition Commission ◽

Partial Acquisition

After the provisions relating to combinations under the Competition Act, 2002 were brought into force accompanied with the coming into force of the Competition Commission of India (Procedure in regard to the transaction of business relating to combinations) Regulations, a number of uncertainties cropped up with respect to its applicability. Even after amending the regulations, in February 2012, the affected sectors still grappled with certain ambiguities in the finer details. One such issue deals with partial acquisition of an enterprise under Regulation 5(9) which has been discussed in this paper. It has been argued that no parameters have been laid down as regards the determination of the ‘purpose’ of the transfer of assets in cases where the transaction does not specify an express purpose. There have also been issues with regard to interpretation of these regulations in as much as even a liberal interpretation of these regulations would render the objectives of these regulations unfulfilled. Also, the dissonance between the global and Indian interpretation of these Regulations has inconvenienced the stakeholders. Taking these issues into account, it has been concluded that appropriate guidelines should be laid down to ensure that ‘purpose’ of the transaction can be determined with certainty and unrelated transactions are not treated as forming part of the same transaction. It has also been concluded that following the internationally accepted position in this area of law may actually be a beneficial position to take. The paper subscribes to doctrinal research through the use of primary and secondary sources of information, which have been critically analysed.

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Testosterone induces plumage ornamentation followed by enhanced territoriality in a female songbird

Behavioral Ecology ◽

10.1093/beheco/araa077 ◽

2020 ◽

Vol 31 (5) ◽

pp. 1233-1241 ◽

Cited By ~ 2

Author(s):

Jordan Boersma ◽

Erik D Enbody ◽

John Anthony Jones ◽

Doka Nason ◽

Elisa Lopez-Contreras ◽

...

Keyword(s):

Territorial Behavior ◽

Free Living ◽

Territory Defense ◽

Testosterone Treatment ◽

Territorial Aggression ◽

Proximate Mechanisms ◽

Active Life ◽

Pretreatment Period ◽

Territorial Behaviors ◽

Partial Acquisition

Abstract We know little of the proximate mechanisms underlying the expression of signaling traits in female vertebrates. Across males, the expression of sexual and competitive traits, including ornamentation and aggressive behavior, is often mediated by testosterone. In the white-shouldered fairywren (Malurus alboscapulatus) of New Guinea, females of different subspecies differ in the presence or absence of white shoulder patches and melanic plumage, whereas males are uniformly ornamented. Previous work has shown that ornamented females circulate more testosterone and exhibit more territorial aggression than do unornamented females. We investigated the degree to which testosterone regulates the expression of ornamental plumage and territorial behavior by implanting free-living unornamented females with testosterone. Every testosterone-treated female produced a male-like cloacal protuberance, and 15 of 20 replaced experimentally plucked brown with white shoulder patch feathers but did not typically produce melanic plumage characteristic of ornamented females. Testosterone treatment did not elevate territorial behavior prior to the production of the plumage ornament or during the active life of the implant. However, females with experimentally induced ornamentation, but exhausted implants, increased the vocal components of territory defense relative to the pretreatment period and also to testosterone-implanted females that did not produce ornamentation. Our results suggest that testosterone induces partial acquisition of the ornamental female plumage phenotype and that ornament expression, rather than testosterone alone, results in elevations of some territorial behaviors.

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