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Profile Of Multiple Versus Single Acquirers And Their Targets: A Research Note
Ooghe, Hubert De Langhe, Tine Camerlynck, Jan
Ooghe, Hubert
De Langhe, Tine
Camerlynck, Jan
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Publication Type
Working paper
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Supervisor
Publication Year
2003
Journal
Book
Publication Volume
Publication Issue
12
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Publication End page
Publication Number of pages
20
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Abstract
Few studies have addressed the pre-take-over financial characteristics of multiple versus single acquirers and their targets. Therefore this study investigates whether multiple acquirers, with some experience in acquiring companies, might acquire firms with different (better) financial characteristics than single acquirers. Our results confirm this hypothesis in multiple ways. It seems that multiple acquirers look for complementary firms in terms of sales and growth. Multiple acquirers specifically want to acquire companies with a high sales generating ability in order to improve their own sales generating ability.
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Keywords
Corporate Finance