Takeover Timing, Implementation Uncertainty, and Embedded Divestment Options

DOI10.1007/S10679-006-9002-YMaRDI QIDQ3413956zbMATH OpenOpenAlexFDO

Authors Luis H. R. Alvarez, Rune Stenbacka

Publication date 5 January 2007

Published in Review of Finance (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s10679-006-9002-y

Mathematics Subject Classification ID

Corporate finance (dividends, real options, etc.) (91G50)

Recommendations

• Optimal and strategic timing of mergers and acquisitions motivated by synergies and risk diversification
• Toehold acquisitions as option games
• Dynamic capital structure choice and investment timing
• Takeover prices and portfolio theory
• Designing optimal M\&A strategies under uncertainty

Cited in

(11)

• Designing optimal M\&A strategies under uncertainty
• Target-initiated takeover with search frictions
• A dynamic model of managerial entrenchment and the positive incentives it creates
• Leverage, premium and timing in corporate acquisitions
• Optimal stopping with information constraint
• Dynamic capital structure choice and investment timing
• Optimal exercise of jointly held real options: a Nash bargaining approach with value diversion
• Performance pay, CEO dismissal, and the dual role of takeovers
• Toehold acquisitions as option games
• Optimal and strategic timing of mergers and acquisitions motivated by synergies and risk diversification
• Strategic merger waves: A theory of musical chairs

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