A Re-examination of the Market Reaction to Failed Mergers
This study examines the revaluation of shares surrounding the cancellation of mergers over the years 1976-85. The results are first categorized according to the party canceling the merger and then by subsequent merger activity. The results are as expected: target firms that become involved in merger activity, subsequent to the cancellation, experience positive cumulative prediction errors. Targets that do not become involved in subsequent merger activity have cumulative prediction errors that return to premerger announcement levels. These results do not vary when bidders or targets cancel the merger. Copyright 1989 by American Finance Association.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 44 (1989)
Issue (Month): 4 (September)
Pages: 1077-1083
| Handle: | RePEc:bla:jfinan:v:44:y:1989:i:4:p:1077-83 |
| Contact details of provider: | Web page: http://www.afajof.org/ More information through EDIRC
|
| Order Information: | Web: http://www.afajof.org/membership/join.asp |
No references listed on IDEAS
You can help add them by filling out this form.