Bargeron, Leonce L.; Schlingemann, Frederik P.; Stulz, … - In: Journal of Financial Economics 89 (2008) 3, pp. 375-390
Using the longest event window, we find that public target shareholders receive a 63% (14%) higher premium when the acquirer is a public firm rather than a private equity firm (private operating firm). The premium difference holds with the usual controls for deal and target characteristics, and...
