Breaking Up Is Hard To Do? An Analysis Of Termination Fee Provisions And Merger Outcomes
- Topics:
- Mergers
- Tags:
- Analysis,
- Finance,
- Human Resources,
- Investment,
- Merger,
- Mergers & Acquisitions,
- Social Science Electronic Publishing Inc.,
- Termination,
- Workforce Management
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Overview: From the executive summary: ‘The paper provides large-sample evidence pertaining to the use of and wealth effects associated with provisions for termination fees in merger agreements. The evidence suggests that target termination fee clauses are an efficient contracting device through which target managers compensate bidders for the costs associated with bid negotiation and the potential for information expropriation by third parties.’
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Format: PDF | Size: 270KB | Date: Aug 2002 | Pages: 51





