This paper investigates the long-term operating performance of reverse leveraged buyouts (i.e. firms that go public after previously being the target of a leveraged buyout). I analyze the accounting performance of a sample of 37 German reverse leveraged buyouts between 1990 and 2007. Before the...

Purpose - The paper investigates the market performance of strategic acquisitions for growth in the fifth and sixth merger waves and outlines the major determinants that affect the performance of acquiring companies in these most complex and most challenging corporate transactions....