The Pricing Effects of Interfirm Cash Tender Offers Journal Article

Overview

abstract

• ABSTRACTThe 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. The analysis further suggests that the market prices information uncertainty in a manner not captured by the standard Capital Asset Pricing Model. The study introduces a technique for unbundling the prices of a primary asset and a contingent claim when only the prices of the combination are observed.

CU Boulder Authors

• Bhagat, Sanjai

publication date

• September 1, 1987

has restriction

• closed

Date in CU Experts

• June 12, 2014 12:27 PM

Full Author List

• BHAGAT S; BRICKLEY JA; LOEWENSTEIN URI

author count

• 3

published in

• Journal of Finance  Journal

Other Profiles

International Standard Serial Number (ISSN)

• 0022-1082

Electronic International Standard Serial Number (EISSN)

• 1540-6261

Digital Object Identifier (DOI)

• https://doi.org/10.1111/j.1540-6261.1987.tb03922.x

Additional Document Info

start page

• 965

end page

• 986

volume

• 42

issue

• 4