Clients turn to us for support in their most complex litigation because we work with experts who are sought-after leaders in merger analysis. Our consulting teams are recognized for providing the highest-quality analysis and support. Our experience spans all phases of the litigation process and includes significant recent trial experience. Our proven track record in successful merger matters, spanning many industries and competition concerns, showcases our expertise in navigating antitrust and competition challenges across the board. The experts we support are recognized for their depth of knowledge, accomplishments, research, and ability to explain complexities to triers of fact.

Selected Experts

Our extensive network of testifying experts includes top academics and consultants.

Merger Litigation Capabilities

Our consultants and affiliated experts have worked at or consulted for enforcement and regulatory agencies. These include the Department of Justice (DOJ), Federal Trade Commission (FTC), and Federal Communications Commission (FCC) in the United States; the Competition and Markets Authority (CMA) in the UK; the European Commission and other EU authorities; as well as other competition entities worldwide. This firsthand experience provides valuable insights for litigation strategies and case preparation.

Our staff and affiliated experts are at the forefront of using sophisticated econometric demand models and merger simulation tools to analyze the likely competitive effects of a merger and any proposed divestitures. By synthesizing data from diverse sources, we provide comprehensive insights into relevant geographic and product markets, competitive effects, and other critical factors.

Incorporating econometric models alongside qualitative evidence, such as ordinary course-of-business documents and fact witness testimony, forms a strong foundation for compelling, credible expert testimony.

Our affiliated experts are skilled at incorporating such evidence, delivering analyses that are consistent with industry realities and the way the merging parties think about how their consumers make choices.

We have supported testifying experts in some of the highest-profile merger litigations of recent years, working on behalf of both merging parties and North American government agencies.

We have participated in more than half of all merger cases that went to trial in the United States over the past nine years, surpassing any other economic consulting firm. We have the experience and skills to help counsel seamlessly transition to litigation and meet the compressed deadlines common in merger litigation.

Clients rely on us to compile large datasets from disparate structured and unstructured sources to address economic issues that arise in mergers. Our staff and affiliated experts regularly work with datasets containing hundreds of billions of records and hundreds of terabytes of data.

Our team of data scientists in our Data Science Center employs our in-house big data infrastructure to conduct large-scale, secure, advanced analytics. Our continuous investments in this space enable us to analyze large datasets effectively and efficiently, allowing affiliated experts to rapidly operationalize their ideas, rigorously test hypotheses, and provide defensible testimony.

In addition, we have extensive experience analyzing data collected via surveys and critiquing methodologies to collect those data.

Our staff and affiliated experts with financial statement or accounting expertise provide valuable input in merger challenges where parties assert efficiency claims or “failing firm” defenses.

In matters where efficiency claims are made, our staff and affiliated experts are experienced at assessing merger specificity and verifying the claimed efficiencies.

The experts with whom we work are experienced at analyzing the required prongs of the failing firm defense: assessing a target firm’s financial condition, evaluating the risk of its key assets leaving the market absent the merger, and determining whether the firm has made good faith efforts to solicit reasonable alternative offers.

Our team of professionals is well-equipped to handle accounting issues in complex merger challenges on a global scale and has substantial cross-border expertise.

Our merger investigations team has deep expertise in a wide range of industries, including:

  • agriculture and food
  • chemicals
  • consumer goods
  • energy
  • financial services
  • healthcare
  • health insurance
  • manufacturing
  • media and entertainment
  • medical devices
  • pharmaceuticals
  • retail
  • technology
  • telecommunications
  • transportation

Featured Cases

Selected Professionals

Our staff consultants contribute expertise in economics, finance, accounting, and marketing, as well as business acumen, familiarity with the litigation process, and a commitment to provide outstanding support.

Featured Publications

2025 Antitrust Writing Awards 13 January 2025

2025 Antitrust Writing Awards

Cornerstone Research professionals and affiliated experts are nominated in Concurrences’ annual selection of leading articles.

Lexology Index 2025: Cornerstone Research Competition Experts Honored as Global and Elite Thought Leaders 7 January 2025

Lexology Index 2025: Cornerstone Research Competition Experts Honored as Global and Elite Thought Leaders

The firm’s academic experts and consulting professionals are recognized among the foremost competition economists in the world.

Expanding the Economic Analysis in Banking Merger Review 20 December 2024

Expanding the Economic Analysis in Banking Merger Review

This article explores economic lessons on bank mergers from literature and merger reviews in non-financial industries.

Quantifying Competitive Price Effects in Healthcare Provider Mergers 20 December 2024

Quantifying Competitive Price Effects in Healthcare Provider Mergers

This article examines how economists use changes in bargaining leverage to forecast the price effects of healthcare provider mergers.

Cornerstone Research Named Outstanding Global Economic Firm 17 December 2024

Cornerstone Research Named Outstanding Global Economic Firm

Global Competition Review recognises Cornerstone Research in the 2025 edition of the GCR 100.

Our Curious Amalgam: Are Airline Mergers Taking Off? 25 November 2024

Our Curious Amalgam: Are Airline Mergers Taking Off?

Gautam Gowrisankaran of Columbia University discussed economic analyses in specific airline transactions in this podcast hosted by the ABA.

Trends in Merger Investigations and Enforcement at the U.S. Antitrust Agencies: FY 2005–FY 2023 1 November 2024

Trends in Merger Investigations and Enforcement at the U.S. Antitrust Agencies: FY 2005–FY 2023

In FY 2023, merger transactions, investigations, and second requests decreased sharply from the prior fiscal year.

Trends in Merger Enforcement 17 October 2024

Trends in Merger Enforcement

This Cornerstone Research report provides analyses of merger enforcement activity by merger size, industry, and agency in the United States.

Lexology Index: Competition Future Leaders—Economists 2024 4 October 2024

Lexology Index: Competition Future Leaders—Economists 2024

Lexology Index, formerly Who’s Who Legal (WWL), recognized an affiliated expert and six Cornerstone Research consulting professionals as “pre-emine...

Cornerstone Research Continues UK and EU Expansion with Key Competition Hire, Andrew Swan 12 September 2024

Cornerstone Research Continues UK and EU Expansion with Key Competition Hire, Andrew Swan

Mr. Swan’s international competition policy experience brings additional depth to the firm’s growing competition and M&A team in Europe.

How can we help you?

For more information or assistance with a specific matter, please contact us.