Bargeron, Leonce; Schlingemann, Frederik P.; Stulz, René M. - 2007
We find that the announcement gain to target shareholders from acquisitions is significantly lower if a private firm … bidder acquisitions. On average, target shareholders receive 55% more if a public firm instead of a private equity fund makes … difference in target shareholder gains between acquisitions made by public bidders with high managerial ownership and by private …
