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| Author: | Eckbo, B. E. Langohr, H. |
| Title: | Information disclosure, method of payment, and takeover premiums. Public and private tender offers in France |
| Journal: | Journal of Financial Economics
1989 : OCT, VOL. 24:2, p. 363-403 |
| Index terms: | MERGERS TENDER OFFERS FRANCE BUSINESS INFORMATION VOTING CONTROL |
| Language: | eng |
| Abstract: | In 1970, France introduced disclosure rules governing public tender offers without changing an existing four-week minimum offer period. There was a substantial increase in total offer premiums thereafter. Post-1970 premiums are also higher in public than in private tender offers, where information disclosure is not required, and in all-cash than in all-stock offers. The impact of the payment method is evident in minority buyouts as well as in offers for voting control. |
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