This paper analyses the wealth effects of mergers and acquisitions in Europe over the past 60 years. We review a number of empirical studies to test several theoretical hypotheses regarding the revenue accruing to target-companies' shareholders. We tend to confirm the positive nature of the...

In line with the international literature mergers and acquisitions produce ambiguous economic impact in Greece. Target-companies gain positive returns up to 6%, while bidder-companies show indifferent results around zero. The level of the abnormal returns in Greece converges with those in...

The economic consequences deriving from the activity of mergers and acquisitions to US bidders are not supportive of its increasing tendency diachronically. Clearly, positive returns are recorded before and during the third merger wave, while in the fourth quarter of the last century the...