Kang, Jun-Koo; Kim, Jin-Mo; Liu, Wei-Lin - In: The Journal of Business 79 (2006) 5, pp. 2503-2538
We examine post-takeover restructuring activity and the sources of gains in large U.S. targets of foreign acquirers. We find that layoffs and sell-offs are less important in justifying the target premium in foreign takeovers than in domestic takeovers. In contrast, U.S. targets in foreign...