PRE-TENDER OFFER SHARE ACQUISITION STRATEGY IN TAKEOVERS

被引：36

作者：

CHOWDHRY, B ^{[1
]}

JEGADEESH, N ^{[1
]}

机构：

[1] UNIV ILLINOIS,COLL COMMERCE & BUSINESS ADM,CHAMPAIGN,IL 61820

来源：

JOURNAL OF FINANCIAL AND QUANTITATIVE ANALYSIS | 1994年 / 29卷 / 01期

关键词：

D O I：

10.2307/2331194

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper models the strategic pre-tender offer share acquisition problem faced by potential bidders in takeovers. The model provides a rational explanation for the seemingly anomalous empirical evidence that the information about the impending tender offers is not fully conveyed through the potential bidders' pre-tender offer trades and for the evidence that a large fraction of bidders do not hold any target shares prior to launching the tender offers. Additional testable implications are also provided.

引用

页码：117 / 129

页数：13

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