Aktas, DeBodt, and Roll found that the greater the adverse impact on European rivals resulting from deals by foreign companies, the more likely that regulators would move to oppose the deal.

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Aktas, DeBodt, and Roll (2013) found evidence suggesting that the greater the adverse impact of a deal on European rivals, the more likely European regulators were to oppose the deal, indicating a protectionist stance in merger regulation.

Aktas, DeBodt, and Roll Found That the Greater the Adverse