Mergers and Acquisitions and the Universal Investor

The Investor Responsibility Research Center (IRRC) Institute invites you to a webinar to review a new report “Mergers and Acquisitions and the Universal Investor.” The study was conducted by a team headed by Dr. Ben Branch, professor of finance at the Isenberg School of Management, University of Massachusetts Amherst. This research provides a first look at the impacts of proposed mergers for large, universal investors like pension and endowment funds that likely have stakes in the shares of the bidder, target companies and in their bonds.What:          Webinar to Review Research & Respond to Questions

When:         Wednesday, February 1, 2012 at 1:00 PM ET

Presenters:  Ben Branch, Report Author & Professor of Finance, UMass Amherst and Jon Lukomnik, IRRC Institute Executive Director

Register:     Please click here

The webinar is available to all interested parties at no cost. Download the full report here. Read the press release here. The research finds that the impact of corporate takeover announcements on competitor company stock and bondholders tends to be small, and either positive or neutral. Shareholders of the peer companies of both the acquirer and target benefit in the short-term from a takeover announcement. Longer-term, the impacts largely disappear for the acquirer peer companies, yet remain for the target peer companies. Additionally, peer bondholders of both the target and acquirer companies benefit modestly from a takeover announcement.

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