The phenomenal growth in corporate merger activity of the 1960s revived interest in the motives and effects relating to … finance, law, and economics. Various authors have argued that motives for merger include increased market power [15, 21, 23 … of all merger motives, and perhaps the only one for which no systematic attempts at empirical validation have been …

implications of merger activity for aggregate economic outcomes. The theory is consistent with a rich set of micro-level facts on … US M&A, including, e.g., sorting among merging firms, a substantial merger premium and serial acquisition. It provides a … sharp link between these facts and the nature of merger gains. Estimating the model shows that both synergies, i …

-period model allows for the arrival of new information and renegotiation after the signing of an initial merger agreement but … option to the target to terminate the merger, where the strike on the option compensates the acquirer's deal-specific effort … without imposing excessive costs on the target for pursuing non-merger alternatives. The option strike can be implemented by …

returns as those involved in the merger. We also find that the merging exchanges increase their market share and experience …

We find strong evidence that analysts tend to have downward-biased earnings estimates immediately before merger … announcement dates when earning announcement date is within a 60 day window prior to merger announcement date. Compared to pure … earning announcement date in the above time frame. An event study within three days window of earning announcement date that …

In Cavallaro v. Commissioner, the Tax Court held that a merger of two family-owned businesses resulted in a substantial …

This paper studies the triggers and the agglomeration of M&A activity within clusters constituted by time, market and … activity and that M&A agglomerates strongly across related industries. While clustering in time turns out to be insignificant … the view that merger waves are largely driven by industry shocks …

impacted dramatically the landscape for mergers and acquisitions (M&As). It is anticipated that, if there is a new merger wave … integration in terms of risk reduction and cost synergy. In particular, we develop new pre-merger and post-merger network models …