Mergers: New Powers for Trustbusters

Out of the competitive economics of baby food jars and beer cans, aluminum cable and sodium chlorate, the U.S. Supreme Court is fashioning a broad extension of the Government's trustbusting powers. In two decisions last week, and a third in the past month, the court looked sternly upon mergers, whether in the same or in rival industries; it also raised new barriers against the acquisition of smaller competitors or the forming of joint ventures. In effect, it put corporate giants on notice that most future growth must come from within rather than...

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