Hostile Takeovers and the Correction of Managerial Failure.
This paper examines the disciplining function of hostile takeovers in the United Kingdom in 1985 and 1986. The authors report evidence of high board turnover and significant levels of posttakeover restructuring. Large gains are anticipated in hostile bids as reflected in high bid premiums. However,...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
1996
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