This study investigates the effect of national champion strategies on the length of the pre-M&A process in Europe. The policy strategy of creating so-called “national champions,” that is, promoting national rather than international mergers, is often the focus of European policy debate. If...

The authors investigate the pre-merger process, defined as the period between the announcement and completion of an M&A (mergers and acquisitions) deal. Specifically, the authors examine if the timing of the announcement in a merger wave affects whether or not the M&A deal is completed, and how...