This study aims to develop a real business life case on the two-step leveraged buyout transaction. Also, it is to share the case with the audience that might be globally related since the financial system has been global. And, consequently the language of financial reporting has been becoming...

We scrutinize the scope of auctions in the presence of downstream interactions and information externalities by using the topical example of a firm acquisition. We show that no mechanism exists that allows an investor to acquire a low-cost firm under incomplete information: a separating auction...

Previous work on exit in declining industries has neglected mergers. We examine a simple model that predicts which declining industries experience horizontal mergers. Mergers are more likely if 1) market concentration is high; 2) the inverse demand curve is steep at high levels of output and...