companies on the abnormal returns generated on account of announcement and the post merger operating and financial performance … study methodology and post & pre merger performance comparison of financial ratios. One sample t-test, Paired samples t …

share market reaction to merger and acquisition announcement (M&A). This provides an initial sample of 658 M&A announcements …

choose auctions to maximize the target takeover premium through greater competition and to relax their financial constraints …

In a large sample of U.S. takeovers, we find that acquisitions of targets with greater financial independence are … associated with higher takeover premiums and lower acquirer announcement returns. This empirical result is most consistent with … depend on external funds do not need new external capital and have no reason to acquiesce potential takeover premium to …

Existing finance theory predicts that managers of takeover targets will increase leverage to enhance managerial control … which can, in turn, allow target managers to thwart a takeover attempt altogether. We find that targets significantly … poorly performing target managers made between takeover announcement and withdrawal result in significantly negative abnormal …

Takeover speculation may hurt productivity because uncertainty and threat of job loss cause anxiety, distraction, and … productivity temporarily declines after announcements of speculative takeover rumors that do not materialize. This productivity dip … news, which are common in financial markets, and the costs of the takeover threat. …

announcements signal the high probability that formal bids will be offered. If potential takeover discussions are revealed earlier …. Financial bidders are less likely to approach targets with earlier possible offers; however, if they do offer possible takeovers …, they need to pay incrementally higher bid premiums in their formal offers. The reform inherent in the U.K. Takeover Code of …

announcements of takeover rumors that do not materialize. Such speculative news may hurt productivity because uncertainty and threat … effects of speculative financial news and the costs of takeover threats. …