Financial versus strategic bidders: Evidence from unsuccessful takeover bids

Magnus Blomkvist () and Timo Korkeamäki ()
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Magnus Blomkvist: Audencia Business School
Timo Korkeamäki: Hanken School of Economics - Hanken School of Economics

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Abstract: Even failed takeovers can identify undervalued target firms. We find that compared to financial bidders, strategic buyers have a greater lasting valuation effect on the targets. Strategic bidders thus appear to be superior in identifying undervalued targets. JEL Classification: G30, G32, G34

Keywords: Mergers and Acquisitions; Corporate Investments (search for similar items in EconPapers)
Date: 2017
New Economics Papers: this item is included in nep-bec and nep-cfn
Note: View the original document on HAL open archive server: https://audencia.hal.science/hal-01578935
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Citations: View citations in EconPapers (2)

Published in Economics Letters, 2017, 159, pp.142-144. ⟨10.1016/j.econlet.2017.07.034⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-01578935

DOI: 10.1016/j.econlet.2017.07.034

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