Amir, Rabah; Diamantoudi, Effrosyni; Xue, Licun - 2004
In view of the uncertainty over the ability of merging firms to achieve efficiency gains, we model the post-merger … equilibrium, a bilateral merger is profitable provided that non-merged firms sufficiently believe that the merger will generate … large enough efficiency gains, even if ex post none actually materialize. The effects of the merger on market performance …