We consider a setting in which two potential merger partners each possess private information pertaining both to the … ex-post regret an unavoidable phenomenon in merger negotiations. To this end, we consider ex-post incentive compatible … mechanisms, which use both players' reports to determine whether or not a merger will take place and what each player will earn …

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 …

's stand-alone value and a component of the synergies that would be realized by the merger involving his firm. We characterize …, hence transfers can be made contingent on the new information accruing after the merger. Second, we study the case of … identify necessary and sufficient conditions for the implementability of efficient merger rules. In the second case, we show …