Business combination in the banking sector plays a significant role in any given economy as proponents purport that it is a catalyst for attaining economies of scale to realise competitive advantage through cost and quality differential. Opponents postulate that big banks abuse their position...

This study examines whether antitrust risk affects firms’ disclosure of mergers and acquisitions (M&As). Due to regulatory exemptions, deals that fall below a size threshold escape formal antitrust scrutiny at the time of the merger. These “non-reported” deals can have important...