Many experts speculate that U.S. antitrust policy towards horizontal mergers has been too lenient. We estimate the … price effects of Whirlpool's acquisition of Maytag to provide new evidence on this debate. We compare price changes in … appliance markets most affected by the merger to markets where concentration changed much less or not at all. We estimate price …

industry merger and acquisition activity. All of these effects are stronger for smaller firms than for larger firms …We provide a model and empirical tests showing how an active acquisition market affects firm incentives to innovate and … through acquisition. Our model and evidence show that the R&D responsiveness of firms increases with demand, competition and …

banks in individual EU countries help to explain the nature of cross-border merger activity. If they wish to protect …

Despite the fact that one-third of worldwide mergers involve firms from different countries, the vast majority of the … academic literature on mergers studies domestic mergers. What little has been written about cross-border mergers has focused on … public firms, usually from the United States. Yet, the vast majority of cross-border mergers involve private firms that are …

Focusing on takeover bids whose outcome can be predicted in advance with certainty, Grossman and Hart established the …

' buyers acquire constrained' targets. This result holds while controlling for merger terms and for different proxies used to …

first order effect on observed merger and acquisition activity in the US. We also present evidence of increased reliance on … while the 1986 Tax Act discouraged transactions among US corporations, it increased the demand for merger and acquisition … certain institutional arrangements (unit management buyouts and going-private transactions) used to effect mergers and …

relatively low in value added per employee at the time of takeover and before, a characteristic we take to indicate relatively … acquired firms did poorly relative to their industries and also relative to their own past performance with respect to the …-term recoveries after takeover from the misfortunes of the takeover year and a return to higher growth rates of employment and output …

also explains why some firms buy other firms. We find that 1. A firm's merger and acquisition (Mamp;A) investment responds … investment, i.e., the 'Free-Cash Flow' story works, but explains a small fraction of mergers only, and 3. The merger waves of …

merge and post-merger value creation and synergies? We compile comprehensive information on U.S. bank acquisitions from 1986 …