Australian Mergers and Takeovers: A Review of Recent Evidence

D.J. Ravenscraft
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D.J. Ravenscraft: University of North Carolina at Chapel Hill, USA

Economic Analysis and Policy, 1987, vol. 17, issue 2, 221-238

Abstract: ”A strategy of corporate acquisition resulted in a deterioration in the performance of the merging firms relative both to their pre-takeover experience, and also compared with the experience of the matching non-merging firms, measured in accounting terms” [McDougall and Round (1986) p. 182]. “Translating this into dollars, the total value created by takeover offers as measured by the change in the residual values of the outstanding shares of the firms involved is $7.2 billion for the offers in the CIS Takeover Database” [Bishop, Dodd and Officer (1987) p. 42].

Date: 1987
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