Cash- and stock-financed takeover bids induce strikingly different target revaluations. We exploit detailed data on … unsuccessful takeover bids between 1980 and 2008, and show that targets of cash offers are revalued on average by 15% after deal … longer horizons. We find no evidence that future takeover activities or operational changes explain these differences …

acquirers in takeover transactions. We find that firms located in an urban area are more likely to receive a takeover bid and … complete a takeover transaction as a target compared with firms located in rural areas, and takeover deals involving an urban … reveal a previously underexplored force—firm location—that can affect takeover transactions, in addition to proximity. Our …

We study the impact of corporate networks on the takeover process. We find that better connected companies are more … active bidders. When a bidder and a target have one or more directors in common, the probability that the takeover … invited to the board of the combined firm in connected M&As. While connections have a clear impact on the takeover strategy …

around the deal announcement are not unanimous across countries. Acquirers beyond the most competitive takeover markets (the … corporate control is a robust determinant of shareholder gains and takeover premia after controlling for deal, firm …