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Do Target Shareholders Lose To Private Acquirers?


Do Target Shareholders Lose To Private Acquirers?

Wen, Yuxin (2018) Do Target Shareholders Lose To Private Acquirers? Masters thesis, Concordia University.

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Do Target Shareholders Lose To Private Acquirers.pdf - Accepted Version


Focusing on private equity firms, I find that targets receive a higher premium when acquirers are private firms. When the target management is in the private acquirer’s team, the targets receive a lower premium. When I look at cumulative abnormal returns (CARs), targets of private acquirers have lower CARs than those of public acquirers, and private acquisitions with management participation have higher CARs than without management participation. Also, private acquisitions are more likely to be successful than public acquisitions, and within private acquisitions, those with target’s management participation have even better odds.

Divisions:Concordia University > John Molson School of Business > Finance
Item Type:Thesis (Masters)
Authors:Wen, Yuxin
Institution:Concordia University
Degree Name:M. Sc.
Program:Administration (Finance option)
Date:May 2018
Thesis Supervisor(s):Mateti, Ravi and Ullah, Saif
ID Code:983921
Deposited By: Yuxin Wen
Deposited On:16 Nov 2018 16:57
Last Modified:16 Nov 2018 16:57
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