Why Do Tender Offers Fail?: An Empirical Study of Tender Offers on the Stockholm Stock Exchange between 1990-2001
Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
The main purpose of this Master's thesis is to determine if there are some explanatory factors or characteristics that explain why tender offers sometimes fail. Using a logistic regression model we test six independent variables; method of payment, bid premium, the board's reaction, toehold, the largest owner and number of blocking shareholders. The conclusion that can be drawn from this study is that the board of director's recommendation is important for the outcome and that stock offers tend to fail more frequently than cash offers.
Place, publisher, year, edition, pages
IdentifiersURN: urn:nbn:se:su:diva-3213OAI: oai:DiVA.org:su-3213DiVA: diva2:192457