Bargeron, Leonce; Schlingemann, Frederik P.; Zutter, Chad J. - 2017
behalf of the target shareholders. Our empirical evidence is not consistent with this belief. We find that, when a private … equity acquirer retains the target CEO, target shareholders receive an acquisition premium that is larger by as much as 18 … than other potential CEOs, we expect target shareholders to receive a larger premium because the post-acquisition value of …