From 1981 - 2010 in Germany, there were only 338 mergers. Over the same period in the US, there were 60,244 mergers.

Given the differences in business dynamics between the U.S. and Germany, a concern over codetermination is that giving workers voting power would reduce events such as mergers and hostile takeovers, which play a much more significant role in the U.S. economy. Doing so may thus have greater consequences in the U.S. economy that European ones by hampering the takeover market.