indicates that the merger arbitrage strategy generates large risk adjusted returns. More recent evidence indicates that the …This paper replicates the core underlying merger arbitrage strategy using daily data from the United Kingdom to … generate three simulated merger arbitrage portfolio return series, for the period 2001 through to 2004. Past empirical evidence …

of such from noise/shock trading and the risk & return characteristics of a merger arbitrage trading strategy …This paper examines the annual risks and returns of three disparate, hypothetical merger arbitrage portfolio strategies … December 2016 time period. Previously written and undoubtedly the most prominent literature into M&A and merger arbitrage …

Largely constant average acquirer returns over the past four decades mask fundamental changes in the takeover market … the 1980s. Offsetting this increase, the average bidder-specific component has declined. We propose a theory of bidder …-specific synergies to help interpret these opposing trends. In our theory and in the data, acquirer returns increase with the extent to …

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 …