Hsieh, Jim (contributor); Walkling, Ralph A. (contributor) - 2003 - [Elektronische Ressource]
probability of bid success and takeover premia are related to arbitrage
holdings. Using a simultaneous-equations framework to … (2001) suggests that the
source of these abnormal returns may be linked to the role played by arbitrageurs in the takeover … accumulating large blocks of target shares. This potential threat forces
bidders to offer higher takeover premia ex-ante. Thus …