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Bethlehem and Youngstown, two majo r steel producers, accounted for abo ut 21 percent of the national steel market in the late 1950s, when they...

Bethlehem and Youngstown, two majo r steel producers, accounted for abo ut
21 percent of the national steel market in the late 1950s, when they proposed
to merge.
594
a. Should the two steel companies have been allowed to merge? Why or why
not?
b. According to the companies, Bethlehem sold most of its output in the
East, whereas Youngstown sold most of its output in the Midwest. Was
this fact relevant? Why or why not?
c. The district court d id not allow Bethlehem and Youngstown to merge.
Yet in 1985 (as we saw in problem I), the Department of Transporta tion PROBLEMS
allowed United Airlines (with about 7 percent of the service between
Japan and the U.S. mainland) to acqu ire Pan Am's Pacifi c Division (with
about 19 percent). How can you expla in this?

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