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Technology Stocks : Intel Corporation (INTC)
INTC 33.62-4.2%3:59 PM EST
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To: Craig M. Newmark who wrote (71482)1/15/1999 9:01:00 AM
From: nihil  Read Replies (1) of 186894
 
Failing Firm Defense

The reason that FTC or DOJ cannot effectively resist even a concentration-enhancing merger in a failing firm scenario is that the court would violate the fifth amendment, i.e. deprive the owners of the failing firm of their property without compensation or due process. The 5th is self-enforcing, and any stockholder can bring an action to restrain the government from preventing the merger. The case law is clear enough IMO to protect a Intel/AMD merger, as unsavory as it sounds, in the likely event that no one else has a few billion dollars to throw down a rathole to gain the privilege of getting their head handed to them by Intel. Want to write an article together on this? Or did we just. A few citations and the thing is done.
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