101
Views
0
CrossRef citations to date
0
Altmetric
Original Articles

On the look-out for a white knight: options-based calculation of probability and expected value of increased bids in hostile takeover battles

&
Pages 1033-1036 | Published online: 16 Sep 2009

References

  • Banerjee , A. and Owers , J. E. 1992 . Wealth reduction in white knight bids . Financial Management , 21 : 48 – 57 .
  • Banerjee , A. and Owers , J. E. 1996 . The impact of the nature and sequence of multiple bids in corporate control contests . The Journal of Corporate Finance , 3 : 23 – 43 .
  • Black , F. and Scholes , M. 1973 . The pricing of options and corporate liabilities . Journal of Political Economy , 81 : 637 – 59 .
  • Carroll , C. , Griffith , J. M. and Rudolph , P. M. 1998 . The performance of white-knight management . Financial Management , 27 : 46 – 56 .
  • Clark , E. A. 1991 . Cross-Border Investment Risk , London : Euromoney Publications .
  • Clark , E. A. , Tunaru , R. and Viney , H. 2005 . An option pricing framework for valuation of football players . Review of Financial Economics , 14 : 281 – 95 .
  • Delianedis, G. and Geske, R. (1998) Credit risk and risk neutral default probabilities: information about rating migrations and default, Working Paper, Anderson Graduate School of Management, University of California, Los Angeles
  • Duan , J.-C. 1994 . Maximum likelihood estimation using price data of the derivative contract . Mathematical Finance , 4 : 155 – 67 .
  • Duan , J.-C. , Gauthier , G. , Simonato , J. G. and Zaanoun , S. Estimating Merton's model by maximum likelihood with survivorship consideration . EFA 2004 Maastricht Meeting Papers No. 4190 . 2004 .
  • Jennings , R. H. and Mazzeo , M. A. 1993 . Competing bids, target management resistance, and the structure of takeover bids . The Review of Financial Studies , 6 : 883 – 909 .
  • Niden , C. M. 1993 . An empirical examination of white knight corporate takeovers: synergy and overbidding . Financial Management , 22 : 28 – 45 .
  • Schwert , G. W. 2000 . Hostility in takeovers: in the eyes of the beholder? . The Journal of Finance , 55 : 2599 – 640 .
  • Vasicek , O. A. 1977 . An equilibrium characterisation of the term structure . Journal of Financial Economics , 5 : 177 – 88 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.