Are mergers and acquisitions significant events which develop informativeness seen as the disclosure of private and … specific information after a transaction? Is the informativeness process the same between countries? To answer to these … questions we use the concept of informativeness, as first developed by Roll (1988). We consider a sample of mergers and …

We investigate investor reactions to merger and acquisition rumors. Employing a large and comprehensive sample of …

In the context of the mega merger and acquisition announcements during the sixth merger wave in Continental Europe … reaction is also accompanied with a significant effect above the average level in the market volatility and the volume traded …

I conduct an event study on the proposed $26.5 billion merger between Sprint and T-Mobile. Positive and statistically … and Verizon is consistent with a market power interpretation of the merger. AT&T's returns appear unaffected by news of …

The recent merger between US Airways and American Airlines was approved by federal and state antitrust authorities … anticompetitive effects from this merger. The economics literature offers many reasons why such stock-market event studies should not … unrelated to competitive harms, such as when a merger changes expectations that one or more rivals will be “in play” (i.e., a …

private merger negotiation process affects bidding strategies. Weprovide strong evidence that market reactions to information … events during the private sale processhave a substantial impact on takeover prices. However, the sensitivity of private bids … duringmerger negotiations have important implications for takeover costs …

This paper aims at identifying the magnitude of excess returns provided by the shares of an acquirer in a merger or …

This paper investigates the informativeness and value relevance of analyst target prices in the context of mergers and … more likely to become a takeover target and offer premium and acquirers’ announcement returns are positively associated …’ takeover likelihood generates economically significant returns. Our results are robust to a battery of additional analysis, and …