Publication
Jan 2009
This paper addresses fairness opinions in mergers and acquisitions in Germany, Switzerland and Austria. The authors examine the determinants of fairness opinions for target firms in various regulatory settings and investigate the impact of such opinions on the abnormal returns of target firms. They explain that while in Germany and Austria market participants do not deem fairness opinions important, they do create value for shareholders in Switzerland.
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English (PDF, 21 pages, 247 KB) |
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Author | Sebastian Lobe, Nils-Christian Schenk |
Series | CEPS ECMI Research Reports |
Issue | 4 |
Publisher | Centre for European Policy Studies (CEPS) |
Copyright | © Copyright 2009, Sebastian Lobe and Nils-Christian Schenk |