A seller's display of willingness to sell (WTS) affects the probability that a sale will take place, the number of potentially interested acquirers, and bidding behaviors. This article investigates the net WTS wealth effect in a mergers and acquisitions framework by deriving a theoretical model...

In the 1990s, European merger regulation (EMR) was biased against foreign acquirers, especially if the deal harmed domestic rivals (i.e., protectionism). In 2002, the Court of First Instance overturned three prohibitions by the European Commission (EC) and criticized its economic analysis. These...