1 What is a typical merger premium paid in a merger or acquisition? What effect does this premium have on the market value of the merger candidate, and when is most of this movement likely to take place? 2 What is the difference between horizontal integration and vertical integration? How does antitrust policy affect the nature of mergers? 3 Name three industries in which mergers have been prominent. Also, what is the difference between a merger and a consolidation? Provide references for each