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| Author: | Bessière, V. |
| Title: | Une modélisation du prix d'offre publique : analyse de l'ensemble des stratégies de la firme initiatrice |
| Journal: | Finance
1997 : DEC, VOL.18:2, p.7-27 |
| Index terms: | MERGERS MODELS PRICES |
| Language: | fre |
| Abstract: | The author develops a model of the takeover offer price in which acquirer has a choice between a dissuasive or minimum price, a signaling or mimicking strategy, and a hostile or friendly offer. The takeover is modeled as an auction between two acquirers with two types (high or low synergies). The alternative strategies are specified following the perfect bayesian equilibrium requirements for signaling games. |
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