Financial versus strategic bidders: Evidence from unsuccessful takeover bids
Résumé
Even failed takeovers can identify undervalued target firms. We find that compared to financial bidders, strategic buyers have a greater lasting valuation effect on the targets. Strategic bidders thus appear to be superior in identifying undervalued targets. JEL Classification: G30, G32, G34
Domaines
Economies et financesOrigine | Fichiers produits par l'(les) auteur(s) |
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