Governance and takeovers: are public-to-private transactions different from traditional acquisitions of listed corporations?

From: Accounting and Business Research | Date: October 1, 2006| Author: | Copyright information

Abstract-Using a unique hand-collected dataset comprising 96 public-to-private (PTP) transactions and 258 acquisitions of listed corporations by existing corporate groups completed during the period 1998 to 2000, this paper investigates the extent to which PTPs have different internal and externa l governance and other characteristics from traditional acquisitions of listed corporations by existing corporate groups. The paper analyses acquisition activity during a period in which three new features were present: the decline in hostile takeovers, the increase in the adoption of governance Codes ...

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