64Although those principles apply to all appraisals of an economic nature, effective judicial review is all the more necessary when the Commission carries out a prospective analysis of developments which might occur on a market as a result of a proposed concentration. As the Court stated in its judgment in Commission v Tetra Laval, paragraph 60 above, paragraphs 42 and 43, a prospective analysis of the kind necessary in merger control must be carried out with great care since it does not entail the examination of past events — for which many items of evidence are often available to enable their causes to be understood — or even of current events, but rather a prediction of events which are more or less likely to occur in future if a decision prohibiting the planned concentration or laying down the conditions for it is not adopted (see, to that effect, Tetra Laval v Commission, paragraph 58 above, paragraph 155). A prospective analysis consisting in an examination of how a concentration might alter the factors determining the state of competition on a given market, in order to establish whether it would give rise to a serious impediment to effective competition, makes it necessary to envisage various chains of cause and effect with a view to ascertaining which of them are the most likely.
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