The news correspondents obtained a quote from the research, "We also show that when the threat of the initial bidder to call a tender offer is not credible, the takeover process might end with a private auction organized by the target. Conversely, when the tender offer threat is credible, the takeover process ends with a deal negotiated bilaterally between the bidder and the target. The takeover premium always depends on the degree of potential competition, while it is affected by the target resistance only for weak initial bidders."
According to the news reporters, the research concluded: "Finally, the model allows us to draw conclusions on how other dimensions of the takeover process, such as termination fees, control benefits and tender offer costs, affect its dynamics and outcome."
For more information on this research see: Competition and dynamics of takeover contests.
Our news journalists report that additional information may be obtained by contacting
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Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC
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