In this study, we examine non-government-assisted US commercial bank merger activity prior to, and during the recent financial crisis. Mergers that occur throughout the crisis appear to be more significant events for both targets and acquirers. Acquirers seek out relatively larger targets during...

After the completion of an M&A transaction, the target firm is delisted but some analysts who covered it retain coverage of the merged firm. We hypothesize that this decision is based on two factors — the analyst's ability to cover the merged firm and his or her assessment of the M&A deal....