Lensink, Robert; Maslennikova, Iryna - In: Applied Financial Economics 18 (2007) 3, pp. 185-198
This article provides the first analysis of value gains to acquirers in the European bank M&A wave of 1996-2004. Using a sample of 75 publicly traded banks from 19 European countries, we document positive and statistically significant abnormal returns for the aggregate acquisition sample....