Using unique, hand-gathered data, this paper examines how public news about the target firmreleased publicly during the private merger negotiation process affects bidding strategies. Weprovide strong evidence that market reactions to information events during the private sale processhave a...

Using a comprehensive sample of cross-border mergers, we find that acquirers from countries experiencing large currency appreciations realize higher abnormal announcement stock returns during both the announcement period and the post-merger period. Importantly, this shareholder wealth creation...

We show that a larger migrant stock from an acquiring country to a target country leads to greater deal frequency and dollar value in cross-border acquisitions after controlling for the differences in economic and financial development, regulatory environments, valuations, and cultural distance....