I think that's an excellent question. It gives me a good opportunity to try to clarify on that point. I think you have to draw a distinction between big companies and monopolies. Maybe that will help to understand my perspective on this. We would be very concerned about a merger to a monopoly, just to put it bluntly. If we had two companies that were the only competitors in the relevant market, and they were seeking to combine together to become the only competitor, we're under no illusions in thinking that there's going to be competition thereafter.
But what we do is look at the relevant market, both the product market and the geographic market, to identify the full scope of competition that's available. We examine the market share and a number of other factors that indicate to us whether there's going to be significant competition following the merger, or whether the merger is going to significantly impair competition.
Just to give you an example, in our merger enforcement guidelines, what we state is that the bureau generally is not concerned with mergers where the combined market share of the merging parties is less than 35%. You're talking about a merger where the combined market share of the parties would be 100%, a merger-to-monopoly scenario, and obviously that would be of significant concern to us.