Present paper proposes an autoregressive time series model to study the behaviour of merger and acquire concept which … proposed merged autoregressive (M-AR) model is to study the impact of merger in the parameters as well as acquired series … know the significance of the merger series. A simulation as well as empirical study is illustrated. …

the second merger. This paper suggests that the increasing returns can be explained by information discovered by investors … about the quality of the first merger upon announcement of the second merger. Using heterogeneity in various measures of … uncertainty regarding the first merger, I find the increasing returns are concentrated in consecutive mergers where the level of …

We find strong evidence that analysts tend to have downward-biased earnings estimates immediately before merger … announcement dates when earning announcement date is within a 60 day window prior to merger announcement date. Compared to pure … hypothesis, suggesting analyst's earnings forecast right before merger announcements may be influenced by merger means of payment …

Material Adverse Change (MAC) clauses play key roles in essentially all merger negotiations. Fewer exclusions in MAC …

analysis of takeover rumors of publically traded US companies from 1990 to 2008 shows that these two types of rumors can be … statistically distinguished by returns of rumored takeover targets before rumor publication. However, market responses to the rumors …, takeover premiums of sampled targets cannot be explained by markup pricing hypothesis although the hypothesis is supported by …

contained in shorting activity around merger announcements. Results in this study do not show evidence of abnormal short selling … short sellers are neither privately informed nor superior in their ability to process information around merger …