Renneboog, Luc; Goergen, M. - Tilburg University, Center for Economic Research - 2002
In this paper, we analyse the short-term wealth effects of large (intra)European takeover bids.We find large … short-term wealth effects of target's and bidder's shareholders, with hostile acquisitions triggering substantially larger … match their core business.Surprisingly, domestic bids create larger short-term wealth effects than cross-border mergers and …