-period model allows for the arrival of new information and renegotiation after the signing of an initial merger agreement but … to the target to terminate the merger, where the strike on the option compensates the acquirer's deal-specific effort … without imposing excessive costs on the target for pursuing non-merger alternatives. The option strike can be implemented by …

We examine how acquirers’ political connections affect the bargaining outcomes in deal negotiations that involve … significant regulatory uncertainties. In the context of takeover antitrust reviews, we show that politically connected acquirers … pay a lower takeover premium to and share a smaller portion of the takeover gains with the targets, indicating that the …

from 44 to 69 million USD. I find that a proposed merger between TimeWarner and Comcast that was challenged by the Federal …