this, the UK government has pursued an active policy of hospital merger. These mergers are initiated by a regulator, acting … on behalf of the public, and justified on the grounds that merger will improve outcomes. We examine whether this promise … involved in a merger, but that politics means that selection for a merger may be random with respect to future performance. We …

form of takeover (tender versus merger) and whether the bid is contested, cash offers provide substantially higher wealth …

merger announcements. Further, the negative economic impact of DC scheme risk on synergistic value from mergers is even … larger than that of DB scheme risk. These results are robust to potential biases due to self-selection by merger partners and …