-period model allows for the arrival of new information and renegotiation after the signing of an initial merger agreement but … to the target to terminate the merger, where the strike on the option compensates the acquirer's deal-specific effort … without imposing excessive costs on the target for pursuing non-merger alternatives. The option strike can be implemented by …

We find that stricter merger control legislation increases abnormal announcement returns of targets in bank mergers by … 7 percentage points. Analyzing potential explanations for this result, we document an increase in the pre-merger … other banks. Other merger properties, including the size and risk profile of targets, the geographic overlap of merging …

, we contrast a measure of the merger's profitability based on event studies with one based on accounting data. We find …

predicts that a merger is more likely to be profitable in an innovation intensive industry. For a high degree of firm … heterogeneity, a merger reduces innovation of both the merged entity and non-merging competitors in an industry with high R … consistent with many predictions of the theoretical model. Our main result is that after a merger, patenting and R&D of the …

This paper studies the use of merger review as a shield to obstacle hostile tender offers of a company. Commenting on …

This Article explores the 2010 merger of United Airlines and Continental Airlines - which usurped Delta's briefly …-held title as the world's largest airline - as well as the failed merger of Greece's two largest airlines, Olympic Air and Aegean … United and Continental merger, explaining pertinent portions of each airline's corporate history over the past 10 years …