after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …As illustrated in the tale of "the dog that did not bark," the absence of news and the passage of time often contain … consistent with a behavioral model of underreaction to the passage of time and cannot be explained by changes in risk or …

after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …As illustrated in the tale of “the dog that did not bark,” the absence of news and the passage of time often contain … consistent with a behavioral model of underreaction to the passage of time and cannot be explained by changes in risk or …

after merger announcement, the passage of time is informative about the probability that the merger will ultimately complete …As illustrated in the tale of "the dog that did not bark," the absence of news and the passage of time often contain … consistent with a behavioral model of underreaction to the passage of time and cannot be explained by changes in risk or …