In this issue of our revived Antitrust Update, our objective is to clear away much of this fog by providing a plain-English introduction to assessing competitive effects and offering practical guidance on various aspects of merger analysis. We begin with a brief overview of merger analysis and the theories of anticompetitive effects. Those readers more familiar with the basic analysis should feel free to skip to Section IV (The Important Role of Customers).

Finally, at the end of this Update, we provide a preview of what promises to be a significant year in Supreme Court antitrust jurisprudence. Three antitrust appeals on the Court's calendar — Reeder-Simco GMC, Inc. v. Volvo GM Heavy Truck Corp., Illinois Tool Works Inc. v. Independent Ink, Inc., and Texaco, Inc. v. Dagher — are highlighted.

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