Is timing everything? The timing of an M&A announcement in a merger wave

T.T. Doan, Padma Rao Sahib, Arjen van Witteloostuijn

OnderzoeksoutputAcademicpeer review

Samenvatting

The authors investigate the pre-merger process, defined as the period between the announcement and completion of an M&A (mergers and acquisitions) deal. Specifically, the authors examine if the timing of the announcement in a merger wave affects whether or not the M&A deal is completed, and how long this pre-merger process takes. The authors conduct a textual analysis of the 150 largest abandoned M&A deals in the sample. From this, the authors find that competing bidders, regulatory concerns, and shareholder opposition from the acquirer are major roadblocks in the pre-merger process, and that these hurdles often occur jointly. Subsequently, the authors examine a sample of 2,802 announced M&As across four industry waves and find that M&A deals initiated earlier in a merger wave are more likely to be completed and are completed more speedily.
Originele taal-2English
TitelAdvances in mergers and acquisitions
RedacteurenC. Cooper, S. Finkelstein
UitgeverijEmerald Group Publishing Limited
Pagina's1-16
Aantal pagina's16
Volume19
ISBN van geprinte versie978-1-83982-329-9
DOI's
StatusPublished - 30-nov-2020

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