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Hirshleifer et al., 1989 - Google Patents

Facilitation of competing bids and the price of a takeover target

Hirshleifer et al., 1989

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Document ID
13639268079147151376
Author
Hirshleifer D
Png I
Publication year
Publication venue
The Review of Financial Studies

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Snippet

We present a model of corporate acquisitions in which initially uninformed bidders must incur costs to learn their (independent) valuations of a potential takeover target. The first bidder makes either a preemptive bid that will deter the second bidderfrom investigating or a …
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