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POSSIBLE JUSTIFICATIONS FOR OFFICIAL
THE MARKET IN CORPORATE CONTROL
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acquired firm acquisition action Anthony Crosland appeals agency appropriate argument Arnold Plant ARTHUR SELDON assertion bidding firm Board of Trade Britain British business decisions buys capital chalk firm cheese firm competition conflict conglomerate merger constraints corporate control decision-making discretionary powers discussion Dr Hindley's economies of scale effective efficient example government policy Graham Hutton ground hamish gray Hobart Papers horizontal merger incentive increase incumbent managers industrial logic inefficient insofar interests of owners investment judgement laissez-faire large firm largest firm loss manufacturer marginal cost market in corporate maximise returns means ment merge merger policy mergers between firms Monopolies Commission monopolistic official bodies official intervention operation output owner-controlled owners of firms ownership plausible possible potential purchasers potential value problem production Professor profits proxy fight public interest public policy ralph Harris Rank-De La Rue reduce relevant require result retailer Rue merger sectors shareholders social take-over trust-busting vertical integration vertical merger