Value of Transaction
$70.9 million to
(previously $68.2 million to $136.4 million)
$136.4 million to
(previously $136.4 million to $682.1 million)
$709.1 million or more
(previously $682.1 million
There are two competing explanations for the higher filing fees for bigger transactions.
- The cost-based explanation is that it takes more time and effort to investigate the competitive effects of bigger transactions.
- The demand-based explanation is that bigger transactions generate more surplus, and so that parties are willing to pay more to complete the transaction.
If the latter, then the FTC is price discriminating against larger transactions.
HT: Bass, Berry & Sims