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Showing result 1 - 5 of 7 essays matching the above criteria.

  1. 1. Success Determinants of Nordic Tender Offers

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Andrei Shakolin; Oleksandr Mliievskyi; [2023]
    Keywords : Tender Offer; Takeover; M A; Bid Premium; Nordic;

    Abstract : The study of 180 tender offers occurred between 2009 and 2023 tests how a set of specific factors affects the probability of the successful completion of the tender offer and compares the results with the industry views on the topic. The study shows that the probability of success of the tender offer is increased with bid premium size and irrevocable commitments, while factors like due diligence condition and entering the process as an interloper negatively affect the probability of success of the bid. READ MORE

  3. 2. Minority Discount in Publicly Traded Firms

    University essay from Uppsala universitet/Företagsekonomiska institutionen

    Author : Martin Goldman; Paul Nissan; [2018]
    Keywords : Minority discounts; Control premiums; Tender offers; Toeholds; Takeovers; Minority interests; Lack of control;

    Abstract : This paper examines the minority discount due to lack of control by looking at tender offer premiums on Swedish publicly traded firms from 2007 to 2018. We analyze how ownership structure, the acquired stake and distribution of shares affect the minority discount. READ MORE

  4. 3. The effects of tender offers on target firms’ market value: case Sweden

    University essay from Lunds universitet/Nationalekonomiska institutionen

    Author : Johan Wolkesson Persson; Daniel Ekholm ; [2011]
    Keywords : Cumulative Average Abnormal Returns CAAR ; Tender Offers; Cumulative Abnormal Return CAR ; Event Study; Regression Analysis; Market Value and Target Firms.; Business and Economics;

    Abstract : Purpose: Investigate to what extent tender offers have created value for shareholders of target firms on the Swedish stock market and if there are any relationship between specific variables and the targets’ abnormal returns. Methodology: The event study methodology and cross sectional regression analysis. READ MORE

  5. 4. Abnormal return prior to tender offers on the Swedish Stock Market

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Erica Sandelin; Viktor Thell; [2010]
    Keywords : Insider trading; Abnormal return; Pre bid run-up;

    Abstract : For this paper 236 tender offers on Swedish listed companies have been studied. The purpose was primarily to investigate abnormal return for the target companies between 1997 and 2009. READ MORE

  6. 5. Speculation Spreads in Swedish Tender Offers

    University essay from Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Author : Fredrik Eklund; Marcus Jennekvist; [2009]
    Keywords : Speculation spread; Risk arbitrage; Tender offer; Bid characteristics; Ownership structure;

    Abstract : This thesis examines speculation spreads, risk arbitrage returns, and potential ex ante bid characteristics related to it, after initial acquisition announcements of 178 public offers on the Stockholm Stock Exchange from 1995 to 2008. Following Jindra and Walkling (2004), we define the speculation spread as the percentage difference between the bid price and the market price of the target company one day after the initial offer announcement. READ MORE