This paper aims to show that information asymmetry plays a vital role in the post-M&A performance-time until deal … that involve more opaque targets that take a shorter time to close perform better, whereas those that take too long to … evidence that information asymmetry problems are severe before the merger is consummated and become attenuated post-merger. …

information about suitable merger targets and to manage the merged corporation in case of an acquisition. Our results show that … obtain high-powered incentives and, hence, a high personal income at the merger-management stage. We derive conditions under …

. Even if market concentration and technological disadvantages lead to a significant welfare reduction after merger, from … takeover is hostile. …