Belot, François - Université Paris-Dauphine (Paris IX) - 2009
takeovers. Using a sample of French deals, this paper investigates the impact of shareholder agreements on takeover premiums. A … shareholder agreement is in force in 27.1% of target companies. A positive relationship between shareholder pacts and takeover … existence of a shareholder agreement. This finding suggests that shareholder pacts dramatically increase the negotiating power …