Strategic and Financial Bidders in Takeover Auctions
Using data on auctions of companies, we estimate valuations (maximum willingness to pay) of strategic and financial bidders from their bids. We find that a typical target is valued higher by strategic bidders. However, 22.4% of targets in our sample are valued higher by financial bidders. These are...
| Main Authors: | , |
|---|---|
| Outros autores: | |
| Formato: | Artigo |
| Idioma: | en_US |
| Publicado: |
American Finance Association/Wiley
2015
|
| Acceso en liña: | http://hdl.handle.net/1721.1/98906 https://orcid.org/0000-0002-6429-850X |