Bidding Strategies and Takeover Premiums: A Review

292 citations recorded by the source corpus.

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

Post-Merger Restructuring and the Boundaries of the Firm (2011, methodology): “We find that acquirers are more likely to retain plants of firms they purchase if they already operate a plant in the same industry and acquirers are particularly likely to retain purchased 1See Andrade, Mitchell, and Stafford (2001) for a survey, and Betton, Eckbo, and Thorburn (2008) for a more re”
Serial Acquirer Bidding: An Empirical Test of the Learning Hypothesis (2011, methodology): “Previous contributions have examined, inter alia, target size, target book-to-market ratio, target run up, toeholds, the acquirer’s status (public or private), the means of payment (cash or stock), and the role of the termination agreement (for a review, see Eckbo, 2009).”
Firm Size, Takeover Profitability, and the Effectiveness of the Market for Corporate Control: Does the Absence of Anti-Takeover Provisions Make a Difference? (2011, unknown): “Covering a similar time period to this study, Eckbo (2009) shows that US premiums averaged at about 50%, whereas for the UK, Antoniou, Arbour and Zhao (2008) report an average of 45% - both substantially higher than in Australia.”
The Real Effects of Uncertainty on Merger Activity (2016, unknown): “Given the low bidder announcement returns commonly reported in the literature (e.g. Eckbo, 2009), this seems a reasonable approximation.”