triggered by M&A from the shareholders' perspective, but there is only a slight evidence on the wealth effects experienced by …

sixth takeover wave. We emphasize the observed change in the behavior in the reaction of investors while acquiring firms in …

shareholders' perspective, but there is limited evidence on the wealth effects experienced by the transaction firms' debtholders …

announcements signal the high probability that formal bids will be offered. If potential takeover discussions are revealed earlier …, then target shareholders will gain significantly lower abnormal returns around the time of when formal offers are announced …, they need to pay incrementally higher bid premiums in their formal offers. The reform inherent in the U.K. Takeover Code of …