AAI Vice-president and Senior Fellow Diana Moss examines the pattern and characteristics of U.S. natural gas pipeline mergers over the last 20 years. The paper asks how restructuring activity in the natural gas industry has affected key components of merger review. It also examines the related question of how merger activity might affect firm conduct at the horizontal and vertical levels. Increases in industry-wide concentration may signal the need for more rigorous merger policy to preserve the gains from restructuring.
The working paper was subsequently published and is available at http://www.elgaronline.com/view/9781845423131.xml.