This paper uses a unified treatment of real options and game theory to examine value appropriation in takeovers within … expected target value, and uncertainty, determine value appropriation in acquisitions. …

Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbidand destroy shareholder …

This paper explains why consolidation acquisitions occur in waves and it predicts the differing role each firm is … initial acquisition triggers a wave of follow-on acquisitions, where the process of asset accumulation by the consolidator is … accelerated since the value of follow-on acquisitions is enhanced by the more concentrated industry structure. An initial …