대규모 IT 인수기업의 재분리 주장에 관한 경쟁법적 연구

During her recent presidential campaign, Senator Elizabeth E. Warren proposed a plan to break-up big tech companies such as Amazon, Facebook and Google. As a part of her break-up plan, she argues for the unwinding of consummated mergers of these companies, with the goal of restoring competition in the tech sector. This paper examines the rationale behind Warren’s unwinding policy and why the senator and her supporters are arguing that the U.S. antitrust authorities should engage in the unprecedented unwinding of various tech mergers. The paper further examines relevant merger laws of the U.S. and shows how her plan to unwind mergers is at odds with the merger enforcement practice in the U.S. The paper also analyzes the main criticisms lodged against Warren’s unwinding policy. Her policy is criticized for being difficult to implement, and for endangering the predictability of the current pre-merger filing regime. More fundamentally, critics say that her policy lacks necessary economic analysis and is overambitious in its goals.