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The financial services industry is experiencing rapid consolidation globally. Consolidation has proceeded not only in the same market but also across different market segments and across national boundaries. In this paper, we (a) outline the general trend of the mergers and acquisitions (M&As)...
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We investigate global competitors’ reaction to the Citicorp–Travelers mega merger announcement and find that global … competitors, especially banks in Europe and the US, reacted positively to the Citicorp and Travelers’ merger announcement. The … uncertainties created by the investigations into the merger proposal had significant impact on the competitors’ stock price. The …
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