Conglomerate Industry Choice and Product Differentiation
---- Acknowledgements -----
This paper entirely replaces a previous version titled "Conglomerate Industry Spanning". We thank Merih Sevilir, Denis Sosyura and seminar participants at Rotterdam School of Management, Erasmus University, Stanford University, Tilberg University, University of Illinois and the University of Mannheim for helpful comments. All errors are the authors alone. All rights reserved. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.