Hankir, Yassin; Rauch, Christian; Umber, Marc P. - In: Journal of Banking & Finance 35 (2011) 9, pp. 2341-2354
This paper analyzes capital market reactions to international bank M&A. We investigate the combined stock return patterns of targets, bidders, and their peers upon takeover announcement, and closing or withdrawal. We distinguish five common M&A hypotheses and relate characteristic and mutually...