banks have a substantial and persistent negative impact on merging banks' revenues. We refer to merger related negative … customers and the temporary distraction of management from day-to-day operations by effecting the merger. For our analyses we … involved in 212 mergers between 1994 and 2006. We find that the negative impact of a merger on net operating revenues amounts …

industries in the sector-specific takeover market, this working paper proves the common knowledge for the example of … corporate characteristics are of significant importance. With respect to prevailing takeover strategies, the survey reveals a …-affected takeover strategies that are elaborated on more closely within the working paper. Examining an acquisition focus in terms of …