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Original Articles

Takeover-divestiture combinations and shareholder wealth

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Pages 577-586 | Published online: 24 Apr 2007

References

  • Allen , JW , Lummer , SL , McConnell , JJ and Reed , DK . 1995 . Can takeover losses explain spinoff gains? . Journal of Financial and Quantitative Analysis , 30 : 465 – 85 .
  • Daley , L , Mehrotra , V and Sivakumar , R . 1997 . Corporate focus and value creation: evidence from spinoffs . Journal of Financial Economics , 45 : 257 – 81 .
  • Fluck , Z and Lynch , AW . 1999 . Why do firms merge and then divest? A theory of financial synergy . Journal of Business , 72 : 319 – 47 .
  • Hite , G and Owers , J . 1983 . Security price reactions around corporate spinoff announcements . Journal of Financial Economics , 12 : 409 – 36 .
  • Kaplan , SN and Weisbach , MS . 1992 . The success of acquisitions: evidence from divestitures . Journal of Finance , 47 : 107 – 38 .
  • Miles , JA and Rosenfeld , JD . 1983 . The effect of voluntary spinoff announcements on shareholder wealth . Journal of Finance , 38 : 1597 – 606 .
  • Mitchell , M and Lehn , K . 1990 . Do bad bidders become good targets? . Journal of Political Economy , 98 : 372 – 98 .

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