fundamental value using a sample of 37 mergers from U.S. industries completed within 1992-1997. For this purpose, the post-merger …This paper examines whether market evaluates merger announcements in a reasonable way based on their effect on … to market efficiency hypothesis. Full sample analysis shows that bidder abnormal stock return at the merger announcement …

takeover target, the takeover premium, and the use of dual class shares. Ordinary Least Squares regressions suggest that the … use of dual class shares is associated with higher takeover premium. However, we also document that the use of dual class … selected we no longer find a significant relation between the takeover premium and the use of dual class shares. Hence, our …

Merging utilities are frequently required to share the economic benefits of a merger with ratepayers. These benefits … are often measured using stock price movements at the time of the merger announcement. While event studies of this sort … this paper, we review the basic event study approach to merger evaluation and discuss some of the complicating factors. We …

The impact of the announcement of a takeover bid has been widely tested in foreign literature. Therefore, the main goal … of this paper is to research the impact of the announcement of a takeover bid on the share price movements in the … takeover bid affects the share prices of the target company, which is consistent with the results of previous research …

The welfare implications of vertical mergers have been a subject of disagreement for decades. Similar to horizontal … mergers, economists need to weigh the efficiency gains relative to the market power concerns when considering the competitive … effects of vertical mergers. However, in vertical mergers, regulators are also concerned with other potential harmful effects …

The present article discusses remedies for coordinated effects under the EU Merger Regulation. To this end, it is …

The analysis of unilateral effects in horizontal mergers — especially on markets for differentiated goods — can take … is an important enhancement of substantive merger appraisal, it should not be considered sufficient in itself for the … finding of a significant impediment to effective competition in terms of Article 2 of the EU Merger Regulation (EUMR). Rather …