This paper investigates the merger wave hypothesis for the US and the UK employing a Markov regime switching model …. Using quarterly data covering the last thirty years, for the US, we identify the beginning of a merger wave in the mid 1990s … but not the much-discussed 1980s merger wave. We argue that the latter finding can be ascribed to the refined methods of …

kind. Unfortunately, takeover rules cannot be crafted so as to hinder all the bad takeovers while at the same time … current EC legal framework for takeovers overall hinders takeover activity in the EU, the paper identifies three rationales …This paper argues that in revising the Takeover Bid Directive, EU policymakers should adopt a neutral approach toward …

employment of merger simulation models in merger control procedures during the past almost 15 years. Merger simulation is … of state-of-the-art merger simulation models and review their previous employment in merger cases as well as the problems … and limitations currently associated with their use in merger control. In summary, merger simulation models represent an …

creation since merger regulations are ex ante in nature. The present study is an attempt to understand how far the expected …

We analyze a Bayesian merger game under two-sided asymmetric information about firm types. We show that the standard … prediction of the lemons market model–if any, only low-type firms are traded–is likely to be misleading: Merger returns, i.e. the … difference between pre- and post-merger profits, are not necessarily higher for low-type firms. This has two implications. First …