Corporate Takeovers*
Sandra Betton John Molson School of Business, Concordia University
B. Espen Eckbo Tuck School of Business, Dartmouth College
Karin S. Thorburn Tuck School of Business, Dartmouth College
Abstract
This chapter surveys the recent empirical literature and adds to the evidence on takeover bids for U.S. targets, 1980–2005. The availability of machine readable transaction databases have allowed empirical tests based on unprecedented sample sizes and detail. We review both aggregate takeover activity and the takeover process itself as it evolves from the initial bid through the final contest outcome. The evidence includes determinants of strategic choices such as the takeover method (merger v. tender offer), the size ...
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