Original paper

Do European bidders pay more in cross-border than in domestic acquisitions? New evidence from Continental Europe and the UK

Volume: 45, Pages: 529 - 556
Published: Oct 1, 2018
Abstract
In this paper, we investigate whether European mergers and acquisitions (M&A) create more value to target than bidding firm shareholders, and why bidders pay larger premiums in cross-border than in domestic acquisitions. Using a sample of 275 intra-European public acquisitions initiated between 2003 and 2010, we find target firm shareholders to earn significantly positive bid premiums in both domestic and cross-border acquisitions. However,...
Paper Details
Title
Do European bidders pay more in cross-border than in domestic acquisitions? New evidence from Continental Europe and the UK
Published Date
Oct 1, 2018
Volume
45
Pages
529 - 556
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