Lande and Langenfeld on The Evolution of Federal Merger Policy

From Surrogates to Stories: The Evolution of Federal Merger Policy is a short essay by Robert H. Lande, University of Baltimore - School of Law, and James Langenfeld, LECG, LLC. It appeared in Antitrust Magazine (1997). Here's the abstract:

This article traces the evolution of federal merger policy. It documents how merger enforcement originally was largely based upon very strong structural presumptions. These presumptions gradually eroded and other factors became more and more important in enforcement decisions. Today merger enforcement essentially consists of structural safe harbors and a full rule of reason analysis for any merger not within these safe harbors.