Farinha, Jorge; Miranda, Francisco - Faculdade de Economia, Universidade do Porto - 2003
(Portugal) using a sample of 52 M&A targets between 1989 and 2001. Our evidence shows that the run-up effect in the Portuguese … studies for well developed capital markets (UK and US). In fact, the cumulative run-up target stock price abnormal increase in …,+40). The presence of acquirers’ toeholds in targets is positively related to the relative magnitude of such run-up effect …