Journal article
Large Wealth Creation in Mergers and Acquisitions
Financial management, v 47(4), pp 953-991
01 Dec 2018
Abstract
We examine completed mergers and acquisitions (M&A) deals with large acquirer shareholder dollar wealth gains at announcement. We find that large‐gain acquisitions are: 1) typically “bolt‐on” deals that are small relative to the acquirer's size, 2) transaction‐specific events (not firm‐ or chief executive officer (CEO)‐specific events), 3) enhanced by synergies of the merged firm, and 4) executed by bidders with high valuation multiples. These findings provide important insight into the factors associated with considerable wealth creation for acquirer shareholders in M&A deals.
Metrics
Details
- Title
- Large Wealth Creation in Mergers and Acquisitions
- Creators
- Eliezer FichTu NguyenMicah Officer
- Publication Details
- Financial management, v 47(4), pp 953-991
- Publisher
- Blackwell Publishing Ltd
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:000450009400006
- Scopus ID
- 2-s2.0-85044850956
- Other Identifier
- 991019168455504721
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Collaboration types
- Domestic collaboration
- International collaboration
- Web of Science research areas
- Business, Finance