Determinants of tender offer premiums
WebMar 30, 2024 · Determinants of tender offer premiums. Financial Analysts Journal, 41, 54 – 68. Rhoades, S. A. (1987). Determinants of Premiums Paid in Bank Acquisitions”, Atlantic Economic Journal, March, pp. 20-30. Rose, P.S. (1991). Bidding theory and bank merger premiums: The impact of structural and regulatory factors. Review of Business … WebWe investigate why firms pay a premium when making a tender offer to repurchase shares, and if the size of the premium is related to the elasticity of the supply curve for the firm’s stock. We find that premiums on self-tender offers are related to characteristics of tendering firms, and to variables that are proxies both for the capital gains and for the …
Determinants of tender offer premiums
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WebDeterminants of Tender Offer Premiums. Article. Full-text available. Jan 1985; FAJ; Robert O. Edmister; Ralph A. Walkling; The bid premium acquiring companies offer for target company shares may ... Webto the effect of the tender offer premium offered to the shareholders by adding a variable whether the offer price exceeds the target 52-week high price. I also study the determinants in special situations such as hostile and competed offers. DATA AND METHODOLOGY A sample of 3783 tender offers from 38 countries was gathered from …
WebRepurchase and Tender Offer Premiums James W. Wansley, William R. Lane, and Salil Sarkar ... C. Determinants of Tender Offer Premiums Several factors may affect the size of the tender offer premium. These factors may be expressed as: (i) The dividend substitution hypothesis. The pre- WebFeb 1, 1994 · Changes in managerial wealth resulting from a tender offer are negatively related to the likelihood of managerial resistance to a tender offer and positively related to the likelihood of tender offer success. We also document that the abnormal returns to tender offers are lower for hostile than for friendly offers if we control for the tender ...
WebWe investigate why firms pay a premium when making a tender offer to repurchase shares, and if the size of the premium is related to the elasticity of the supply curve for the firm's stock. We find that premiums on self-tender offers are related to characteristics of tendering firms, and to variables that are proxies both for the capital gains and for the … WebMar 1, 2007 · Potential determinants of tender premium and percentage tendered2.1. Tender premium. There are four primary factors that we expect will directly affect tender offer premiums. 5 These factors include: (1) stated motivation of the firm; (2) market conditions and taxes; (3) information asymmetry; and (4) ability to pay for a successful …
WebDeterminants of Bond Tender Premiums and the Percentage Tendered Abstract: We analyze a large sample of recent US corporate bond tender offers to understand what …
WebExamples of Tender Premium in a sentence. Includes the Early Tender Premium, but excludes accrued and unpaid interest, which also will be paid to, but excluding, the … hbo christmasWebJan 1, 1985 · Premiums in offers where the bidder seeks majority control are 9 percentage points higher than when the bidder does not seek … gold ball on queens casketWebWe analyze a large sample of recent US corporate bond tender offers to understand what affects tender premiums as well as the percentage of bonds tendered. For the average (median) tender offer, the tender price is 4.75 (3.40) percent greater than the pre-tender market price while the percentage of bonds tendered is 82.3 (94.6) percent. Premiums … gold ball on queens coffinWebJul 29, 2011 · The percentage of shares already controlled by the offering company, its ability to acquire enough shares to be able to implement potentially beneficial changes, … gold ball on flagpoleWebThe percentage of shares already controlled by the offering company, its ability to acquire enough shares to be able to implement potentially beneficial changes, and the existence … hbo christmas specialsWebMar 1, 2007 · Our multivariate analysis of tender offers focuses on the determinants of the tender premium and the percentage of bonds tendered. In Table 5, we examine the … gold ball of yarnWebAug 1, 2003 · This research analyzes the impacts of core-relatedness and multiple bidders on premiums paid in 285 tender offers for US-based manufacturing firms. In a core-related M&A, the primary business of the acquirer is the same, vertically connected to or similar to the primary business of the target firm. hbo christmas show