Horizontal mergers with synergies: Cash vs. profit-share auctions

We consider takeover bidding in a Cournot oligopoly when firms have private information concerning the synergy effect of merging with a takeover target and bidders can influence rivals' beliefs through their bids. We compare cash and profit-share auctions, first- and second-price, supplemented...

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Bibliographische Detailangaben

Veröffentlicht in:	International journal of industrial organization 2013-09, Vol.31 (5), p.382-391
Hauptverfasser:	Ding, Wei, Fan, Cuihong, Wolfstetter, Elmar G.
Format:	Artikel
Sprache:	eng
Schlagworte:	Auctions Comparative studies Externalities Horizontal integration Horizontal mergers Oligopoly Takeovers Target company Tender offers
Online-Zugang:	Volltext
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