Maksimovic, Vojislav; Phillips, Gordon; Prabhala, N.R. - In: Journal of Financial Economics 102 (2011) 2, pp. 317-343
We examine how firms redraw their boundaries after acquisitions using plant-level data. We find that there is extensive restructuring in a short period following mergers and full-firm acquisitions. Acquirers of full firms sell 27% and close 19% of the plants of target firms within three years of...