Desai, Chintal A.; Klock, Mark S.; Mansi, Sattar A. - In: Journal of Banking & Finance 35 (2011) 12, pp. 3432-3449
We examine the role played by the parent’s motive in undertaking a carve-out; the parent’s post-IPO influence over the carved-out subsidiary; and anti-takeover provisions and industry structure of a carve-out on its acquisition likelihood and its acquisition premium. We find that the...