There is a growing concern that U.S. merger control may have been too lenient, but empirical evidence remains limited … reviewing the use and challenges of event studies in merger analysis, I use a novel application of Hoberg-Phillips (2010, 2016 ….S. mergers between 1997 and 2017. I document that following a merger announcement, the most likely competitors experience on …

This paper considers changes in market comovement of merging US firms. Comparing the expected to the actual post merger … comovement, we find that the post merger beta exhibits excess comovement with the acquiring firm. This suggests that the firm … the excess comovement is greater when the target is included in the S&P 500 as a result of the merger. …