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| Tekijä: | Bhagat, S. Brickley, J. A. Loewenstein, U. |
| Otsikko: | The pricing effects of interfirm cash tender offers. |
| Lehti: | Journal of Finance
1987 : SEP, VOL. 42:4, p. 965-986 |
| Asiasana: | CAPITAL ASSET PRICING MERGERS SHARES PRICE POLICY |
| Kieli: | eng |
| Tiivistelmä: | The tools provided by option-pricing theory are used to examine the wealth effects of interfirm cash tender offers. The analysis provides evidence consistent with the "synergy" theory of corporate takeovers and has implications concerning the economic effects of regulations of cash tender offers. A technique is introduced for unbundling the prices of a primary asset and a contingent claim when only the prices of the combination are observed. |
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