Kaplan, Steven N.; Weisbach, Michael S. - 2022
This paper studies a sample of large acquisitions completed between 1971 arid 1982. By the end of 1989, acquirers have … the sale price, we characterize the ex post success of the divested acquisitions and consider only 34% to 50% of … announcement are significantly lower for unsuccessful acquisitions than for divestitures not classified as unsuccessful arid for …