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Australian Mergers and Takeovers: A Review of Recent Evidence

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  • Ravenscraft, D.J.

    (University of North Carolina at Chapel Hill, USA)

Abstract

”A strategy of corporate acquisition resulted in a deterioration in the performance of the merging firms relative both to their pre-takeover experience, and also compared with the experience of the matching non-merging firms, measured in accounting terms” [McDougall and Round (1986) p. 182]. “Translating this into dollars, the total value created by takeover offers as measured by the change in the residual values of the outstanding shares of the firms involved is $7.2 billion for the offers in the CIS Takeover Database” [Bishop, Dodd and Officer (1987) p. 42].

Suggested Citation

  • Ravenscraft, D.J., 1987. "Australian Mergers and Takeovers: A Review of Recent Evidence," Economic Analysis and Policy, Elsevier, vol. 17(2), pages 221-238.
    • Handle: RePEc:eee:ecanpo:v:17:y:1987:i:2:p:221-238
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