SUSTENTABILIDAD DE LAS FUSIONES, ASIMETRÍAS DE INFORMACIÓN Y ESTRATEGIAS DE LAS EMPRESAS NO FUSIONADAS.

The purpose of this paper is to analyze firms horizontal mergers sustainability in a quantity competition setting assuming both asymmetric information and profits transfers among firms. In such a context it is proved that a merger between two follower firms could be sustainable. Furthermore, it is proved that the minimal number of firms needed in order to guarantee the merger sustainability is lower under asymmetric information than under symmetric information. [ABSTRACT FROM AUTHOR]