The Dividend Policy of the Merged Firm, Method of Payment, and Takeover Premium

Dereeper, Sébastien; Turki, Aymen

doi:10.2139/ssrn.2084892

Cited by 1 publication

(1 citation statement)

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“…The situation of dividends after a merger or an acquisition is a subject of debate because it can be analysed from two perspectives: the one of the acquirer and the one of the target, given the fact that one of the parties has to collect and the other one is in the position of the payer. Thus, their attitude regarding dividends is different, and there are separate factors that can influence the decision to purchase shares in order to collect revenues versus the decision to pay dividends (Dereeper and Turki 2012).…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Determinant Factors of M&As in Emerging Economies: The Impact of Financial Performance in Romanian Minority Acquisitions

Maha,

Aevoae,

Viorică

et al. 2023

Economies

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The paper aims at describing two dimensions of acquirers’ behaviour when purchasing minority shares in Romanian listed target companies, based on a sample of 710 Romanian minority acquisitions. The first dimension regards the acquirer’s decision to invest a certain amount, being influenced by the profitability of the target company The relationship was found to be positive and significant. To test the model further, a sample of 308 transactions was used, after excluding the transactions involving primary sector and blue-chip target companies. The second dimension focuses on the amount of purchased stake, which leads to either financial gains or the takeover intention, under the influence of the target company’s operational profit. The results show a positive and significant relationship for the small stakes and a non-significant one for the high stakes.

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Section: Literature Review and Hypothesesmentioning

confidence: 99%