We present a model in which mutual gains from trade motivate the use of termination provisions in merger contracts. The … inclusion of a termination provision in the contract permits Pareto efficient merger contracts and results in strictly higher … form of bidder insurance, although they do increase the probability that a merger is consummated. The model provides a rich …

effects of the Carlsberg-Pripps merger in the Swedish beer market and compare the predicted outcomes with those observed ex …-post. There are no important price increases following the merger and prices of divested beers fell. Our merger simulations, that …

This paper replicates the core underlying merger arbitrage strategy using daily data from the United Kingdom to … generate three simulated merger arbitrage portfolio return series, for the period 2001 through to 2004. Past empirical evidence … indicates that the merger arbitrage strategy generates large risk adjusted returns. More recent evidence indicates that the …

-period model allows for the arrival of new information and renegotiation after the signing of an initial merger agreement but … 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 …

reasons to make a bargain on M&A is intention to obtain positive synergy effect because basing on management theory its … that different kinds of synergies can appear not just after combining, but with time, that requires further investigations …

We study optimal merger policy in a dynamic model in which the presence of scale economies implies that firms can … the period the merger is proposed. We also find that the ability to commit can lead to a significant welfare improvement …

addition to standard merger price effects. ccGUPPI is sufficient to correctly predict whether a merger of capacity … full merger simulation …

evaluating economic effects of merger and acquisitions (M&As). This framework allows to consider the variation in treatment …