Abstract:This study investigates the impact of takeover announcements on UK acquirer shareholders" wealth during the period 2002-2006. More specifically, it is investigated whether the impact of single acquirers on shareholders" wealth is significantly different from the impact of multiple acquirers. Findings suggest that acquirer shareholders experience positive abnormal returns during the announcement period. Moreover, the results indicate single acquirers consistently outperform multiple acquirers when testing for d… Show more
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