Turning the bargaining theory tables: The Tipline for 6 June 2019

Oh, how the tables have turned. Judge Richard Leon may have rejected the harm caused by increased bargaining power from a vertical merger during AT&T/Time Warner, but he appears to be on board with the theory as it applies to CVS Health/Aetna. During the second and final day of live evidentiary hearings on the Department of Justice’s proposed settlement of the merger, Judge Leon said: “It’s the 21 million [Aetna] customers acquired… that’s the leverage [CVS] gained. Am I wrong?”