Journal article
Predicting Tender Offer Success: A Logistic Analysis
Journal of financial and quantitative analysis, v 20(4), pp 461-478
01 Dec 1985
Abstract
This research develops and tests a model for the prediction of tender offer outcomes. Variables that increase the supply of "obtainable shares" (such as increased bid premiums or the payment of solicitation fees) are shown to increase the probability of success. Increased ownership of target firm shares by the bidder also increases the probability of success. Variables that impede the tendering of shares (such as target management opposition or a competing bid) decrease the probability of success. Tests of the model utilizing both linear and logistic analysis support the theoretical constructs and help resolve the paradoxical findings of previous research.
Metrics
Details
- Title
- Predicting Tender Offer Success: A Logistic Analysis
- Creators
- Ralph A. Walkling
- Publication Details
- Journal of financial and quantitative analysis, v 20(4), pp 461-478
- Publisher
- University of Washington Graduate School of Business Administration and the Western Finance Association
- Resource Type
- Journal article
- Language
- English
- Academic Unit
- Finance
- Web of Science ID
- WOS:A1985AWB2400006
- Scopus ID
- 2-s2.0-84974200373
- Other Identifier
- 991021881391504721
InCites Highlights
Data related to this publication, from InCites Benchmarking & Analytics tool:
- Web of Science research areas
- Business, Finance
- Economics