search query: @author Sudarsanam, S. / total: 9
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| Author: | Sudarsanam, S. |
| Title: | Large shareholders, takeovers and target valuation |
| Journal: | Journal of Business Finance and Accounting
1996 : MAR, VOL. 23:2, p. 295-314 |
| Index terms: | SHAREHOLDERS COMPANY CONTROL MERGERS |
| Language: | eng |
| Abstract: | This paper empirically investigates the valuation effects of large share acquisitions. Valuation of target companies when large block minority shareholdings are acquired and during the following period when takeovers are attempted is examined. Various hypotheses concerning the relationship between block acquisitions and takeovers are tested for a sample of 228 UK listed companies in which patrtial acquisitions ranking from 5% to 30% are made during 1985-92. Stock market valuation of targets is tracked for a period of three years. Valuation effects are studied by partitioning the sample into a number of subsamples based on block size, takeover type and acquirer identity. |
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