that it is beneficial to be a non-merging rival firm to a large horizontal merger. Using a sample of mergers with expert … waves; hence, 'future acquisition probability' does not drive the positive abnormal returns of rivals. We then build a …

mergers in the U.S. banking industry. We quantify integration depth based on expenditures in merger-related integration, and …. The effect of IT intensity becomes increasingly positive in mergers involving a large depth of integration. We also …

Do shareholders of acquiring companies profit from acquisitions, or do acquiring CEOs overbidand destroy shareholder …

) as advisors in mergers. However, this choice weakens any certification effect and creates a potential conflict of …