Strategic Toeholds in Takeovers
While intuitively the toehold, i.e. target shares acquired in the market prior to launching takeover bids, should be maximal, the empirical results reveal heterogeneity in the observed levels. Our study explains this gap. With a tender offer model with asymmetric information, we find that acquiri...
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| Hlavní autoři: | , , |
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| Médium: | Article ou chapitre numérique |
| Jazyk: | Français |
| Vydáno: |
2026
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| Témata: | |
| On-line přístup: | Accès Université d'Orléans et IFPM |