How do takeovers in the United Kingdom split value gains between domestic deals' parties?
Tarcisio da Graca
Abstract:PurposeThis paper aims to address the question: What is the distribution of value (in pounds) created in a sample of domestic takeovers in the United Kingdom from 2013 to 2020 among acquirer and target stockholders?Design/methodology/approachThe author employs a traditional event study methodology to calculate the percentage excess returns of companies on the announcement date. These returns are then converted into pound-denominated excess returns using the companies' market capitalizations. This allows the au… Show more
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