the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any … the economic value of the majority interest. Both assumptions are based on Property Rights Theory and are fundamental to …

analysis of takeover rumors of publically traded US companies from 1990 to 2008 shows that these two types of rumors can be … statistically distinguished by returns of rumored takeover targets before rumor publication. However, market responses to the rumors …, takeover premiums of sampled targets cannot be explained by markup pricing hypothesis although the hypothesis is supported by …

In this study, we investigate the effect of merger waves on the long-term valuation of aggregate stock market. Our … empirical test shows significant positive relationship between the intensity of past, with four years lag, aggregate merger …

This paper examines whether market evaluates merger announcements in a reasonable way based on their effect on … fundamental value using a sample of 37 mergers from U.S. industries completed within 1992-1997. For this purpose, the post-merger … to market efficiency hypothesis. Full sample analysis shows that bidder abnormal stock return at the merger announcement …

analysis of takeover rumors of publicly traded US companies from 1990 to 2008 shows that these two types of rumors can be … statistically distinguished by returns of rumored takeover targets before rumor publication. However, market responses to the rumors …, takeover premiums of sampled targets cannot be explained by markup pricing hypothesis although the hypothesis is supported by …

This paper measures the capital markets’ reaction to merger announcements within the announcement month using the … significant. These results indicate that the gains around the merger announcements reflect synergetic gains, not the wealth …

The impact of the announcement of a takeover bid has been widely tested in foreign literature. Therefore, the main goal … of this paper is to research the impact of the announcement of a takeover bid on the share price movements in the … takeover bid affects the share prices of the target company, which is consistent with the results of previous research …