Managerial Finance: Volume 17 Issue 1

Creating Value Through Mergers and Acquisitions: Some Motivations

Jacobus T. Severiens

The pace of international mergers and acquisitions activity has quickened dramatically in the past few years. European companies have continued their spending spree in the United…

Gains and Losses from Mergers: The Evidence

David J. Ravenscraft

The preceeding article has examined some of the motivations behind the high premiums offered shareholders of target firms in acquisitions and mergers. In essence, the acquirers…

Planning a Successful Acquisitions Strategy: Some Guidelines

Raj Aggarwal, J. Edward, Louise E. Mellen, Frank J. Navratil

So far, the overall performance track record for corporate mergers and acquisitions has not been very encouraging. Both the academic and trade literature report that on average…

Financing Takeovers: Junk Bonds and Leverage Buyouts

D. Anthony Plath

Corporate takeovers have become a prominent feature of global business. Merger and acquisition activity in the United States alone climbed from $32 billion in 1980 to $300 billion…

Defending Against Hostile Takeovers: Impact on Shareholder Wealth

Lisa Borstadt, Thomas Zwirlein, James Brickley

Innovations in takeover financing, less restrictive regulatory requirements, and a general desire to enhance market position have led to a substantial increase in corporate…

Antitakeover Regulations: Lessons from the American Experience

Lois Yoder

Last year was particularly unsettling for European managers. Daily, they heard reports of an oncoming decade of hostile takeovers presaged by the likes of Hoylake's bid for BAT…