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Strategy - Mergers & Acquisitions

 

 
Holdups, Renegotiation and Termination Fees in Mergers We examine contracts used in mergers from the announcement of initial definitive agreement to the completion or termination of the deal, and the renegotiation process in between. We build a model that allows for renegotiation following the arrival of new information, and demonstrate that a properly designed contract solves the holdup problem and induces higher deal-specific efforts that increase the synergy of the merger. 2004

 

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Status: 18. Januar 2008