I have been particularly concerned with cases where a large number of local markets are affected. In such cases, even if the adverse effect is fairly small in each of several local markets, it seems to me that the cumulative, or total, adverse effect might be significant.
Thus, when a large number of markets are affected adversely, I believe that we should be especially careful to assure ourselves that there are substantial mitigating factors. In addition, when a merger would cause a large change in concentration in a market that is, or becomes, highly concentrated, I think we need to give special attention to the impact on competition.