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Mergers and Acquisitions, Take-Over

C/F/615. Dissertation. Cross Border Mergers and Acquisitions in France over 2002-2005

WORDS:: 9900
ADD-ONS:: CARs
DATE:: 2009
PRICE:: 99.99 GBP

The dissertation looks at the mergers and acquisitions (M&A) that took place in France during 2002-2005 seeking to identify who benefited most from the deal: the bidding companies’ shareholders or the target companies’ shareholders. Literature is reviewed on the theory of M&A detailing the motives behind corporate takeovers, identifying the features of cross-border acquisitions as opposed to domestic M&A, etc. The research is based on the quantitative data retrieved from statistical online sources and qualitative data obtained from secondary sources. The methods of the study include the estimation of cumulative abnormal returns (CAR) of bidders and targets. Conclusions are made about the wealth gains for target and bidder shareholders in the studied M&A.

KEYWORDS: Dissertation, CAR, cumulative abnormal return, mergers and acquisitions, M&A, shareholders, expected returns, cross-border acquisition,