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British experience suggests that mergers matter with respect to the evolution of systems of ownership and control and that the … influence on the evolution of share ownership arrangements …
Persistent link: https://www.econbiz.de/10014069991
Persistent link: https://www.econbiz.de/10012430737
smaller initial takeover premium proposals. We find evidence that, controlling for endogeneity, top defense litigation counsel …
Persistent link: https://www.econbiz.de/10012969374
&A) transactions, and the associations of these lawsuits with offer completion rates and takeover premia. We find that M&A offers … takeover premia in completed deals, after controlling for the same factors. Economically, the expected rise in takeover premia …
Persistent link: https://www.econbiz.de/10012976259
Appraisal rights grant dissenting shareholders in an acquisition the right to petition the court to determine the value of their shares. These rights can protect shareholders from acquisitions below fundamental value or can be abused by opportunistic investors. We examine the use of appraisal...
Persistent link: https://www.econbiz.de/10012966206
institutional ownership is positively associated with the intensity of cross-border M&A activity worldwide. Foreign institutional … ownership increases the probability that a merger deal is cross-border, successful, and the bidder takes full control of the …
Persistent link: https://www.econbiz.de/10013158587
This paper examines the relation between firm ownership structure, bilateral political relations and firm performance … relative to non-affiliated bidders. Collectively, our results suggest an important role for bidder ownership type as well as …
Persistent link: https://www.econbiz.de/10012961965
. Institutional cross-ownership between two firms not only increases the probability of them merging, but also affects the outcomes of … mergers and acquisitions (M&As). Institutional cross-ownership reduces deal premiums, increases stock payment in M … high institutional cross-ownership have lower transaction costs and disclose more transparent financial statement …
Persistent link: https://www.econbiz.de/10012903520
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any lawsuit is pending with a court. In particular, mergers...
Persistent link: https://www.econbiz.de/10013058808
We examine the valuation of synergies and control in mergers and acquisitions (M&A) in Central and Eastern European (CEE) transition economies. We determine this value based on comprehensive contemporaneous financial findings extracted from the Thomson Reuters database. Worldwide the market of...
Persistent link: https://www.econbiz.de/10011820232