Summary
Contents
Subject index
A rigorous and relevant book on mergers, acquisitions and corporate restructuring for students and practitioners of finance.
The key features of this work are:
It covers the entire spectrum of activities in a typical merger transaction - starting from searching for candidates to closing the deal; Topics discussed include rationale for diversification via acquisition, searching for acquisitions, valuation of publicly and privately held companies, design of consideration in acquisitions, crossborder acquisitions and empirical data on mergers; The book covers various forms of corporate restructuring like spin offs, carve outs, targeted stocks, reorganization of debt contracts, lay offs and downsizing; It contains numerous real life examples and summarizes much of the research done in the last 20 years.
The Empirical Evidence on Mergers
The Empirical Evidence on Mergers
Chapter Objectives
- Highlights the empirical findings on returns to acquiring as well as acquired firms
- Introduction to event studies, a type of empirical research methodology
- Summarizes research on all aspects of mergers
Over the past four decades, mergers and takeovers have been the subjects of extensive research. Every decade, surveys of the literature have summarized the extent of our knowledge in the area. Examples of these surveys include Jensen and Ruback (1983), Jarrell et al. (1988), Agrawal and Jaffe (1999), and Bruner (2002), among others. As the body of merger research becomes more and more extensive, the later surveys focus on specific areas. Agrawal and Jaffe (1999), for example, focus on the long-horizon post-merger stock performance of acquirers in mergers. ...
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