Figure 7

Litigated Cases — Wins

Case	Product	Market Structure	HHI /Delta	Plus Factors
FTC v. Heinz (2001)	Baby food	3-to-2	5,300	Strong PNB presumption

No unique impediments

Price leadership history

Transparent sales data

Ignored econometric data

Reject efficiencies story
FTC v. Swedish Match (2000)	Loose leaf chewing tobacco	3-to-2	4,700/1500	Price leadership history

FTC v. Cardinal Health (1998)	Drug wholesaling	Two parallel mergers, reducing major firm from 4 to 2	3,100/1600

(both mergers)	Reject ease of entry story

Reject power buyers story

FTC v. University Health (1991)	Acute care hospitals	5-to-4	3,200/600	Entry barriers

Ability to monitor capacity expansion

Reject power buyers story

Figure 7 con't

Litigated Cases — Losses

Parties	Product Market	Market Structure	HHI /Delt a	Factors
Union Pacific/Southern Pacific ( STB , 1996)	Rail service	3-to-2	N/A	High fixed costs

Long-term contracts

No transparency

Large buyers

Econometric evidence
NY v. Kraft	ready-to-eat cereals	6-to-5	2,300/70	Multidimensional non- price competition

Product heterogeneity

Not a maverick

No promotion transparency

Lengthy promotion response time
US v. Archer- Daniel-Midlands	High fructose corn syrup	9-to-8	2,200/400	Powerful buyers

High fixed costs

Long-term contracts

No transparency

Product heterogeneity