By means of a company merger formerly legally and economically independent companies are tied up to an economic entity …. To order the financial state of affairs after the merger, the current shareholders must revalue their stake in the merged … to define an ideal exchange ratio, the valuation problem of a merger was taken up again not earlier than in Hering (2004 …

I analyze the acquirers in both withdrawn and completed merger deals to disentangle the effects of signaling from those … withdrawn counterparts over the six months following initial announcement. However, if an announced stock merger later falls …

We examine the interaction between funds implementing hedge and merger arbitrage strategies and a set of traditional …

goal of this paper is to investigate the change in operating performance, efficiency, and value addition of US bank mergers … examine the factors that have significant impact on changes in bank performance. Our empirical results lead to the conclusion … that the industry-adjusted operating performance of merged banks increases significantly after a merger. This finding is …

Largely constant average acquirer returns over the past four decades mask fundamental changes in the takeover market … consistent with rising merger synergies that have become less bidder-specific …

less than in an alternative where the merger is undertaken by a product market rival. This paper presents a model based on … synergies, market power and competition for merger targets. Consistent with the model the empirical results obtained here show a … strong correlation between the returns of acquiring firms and close rivals around merger events …

. Using supervisory trade-level data, we show that banks with closer ties to a target advisor in a takeover buy more stocks of … ffnd such effects for bank connections to acquirer advisors or for trades in acquirer stocks. Target advisors benefit from … leaking information about takeover bids to connected banks, as it drives up the premium paid without compromising the …

participate in a takeover transaction at equal terms – affects target announcement returns. I use a difference …