Toeholds and Takeovers.

Part ownership of a takeover target can help a bidder win a takeover auction, often at a low price. A bidder with a 'toehold' bids aggressively in a standard ascending auction because its offers are both bids for the remaining shares and asks for its own holdings. While the direct effect o...

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Chi tiết về thư mục
Những tác giả chính: Bulow, J, Huang, M, Klemperer, P
Định dạng: Working paper
Ngôn ngữ:English
Được phát hành: CEPR 1996

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