Latorre, Miguel A.; Herrero, Begoña; Farinós, José E. - In: Applied Economics Letters 21 (2014) 15, pp. 1075-1078
Previous results are ambiguous about whether prices fully reflect value creation or destruction at the time of the acquisition announcement when samples are split into listed and unlisted target firms. We find that the Spanish market fully reacts to the acquisition announcement (showing value...