We find that the acquirer’s (1) abnormal returns at merger and acquisition (M&A) announcements and (2) long … insider net purchase ratios receive higher takeover premiums. Overall, our findings suggest that, even under the “Short Swing …

This paper offers new evidence on informed trading around merger and acquisition announcements from the UK equity and …

Merger and Acquisition (M&A) activities are not well-anticipated corporate events in the equity market. Do … be merger arbitragers and buy more shares of target firm stocks to speculate on final deal consummation; while banks …

more likely to become a takeover target and offer premium and acquirers’ announcement returns are positively associated …’ takeover likelihood generates economically significant returns. Our results are robust to a battery of additional analysis, and … useful for participants in the corporate takeover markets …