EREL, ISIL; JANG, YEEJIN; WEISBACH, MICHAEL S. - In: Journal of Finance 70 (2015) 1, pp. 289-328
type="main" <title type="main">ABSTRACT</title> <p>Managers often claim that target firms are financially constrained prior to being acquired and that these constraints are eased following the acquisition. Using a large sample of European acquisitions, we document that the level of cash that target firms hold, the...</p>