TOEHOLDS AND BID DEFERRAL
This paper introduces a new rationale for toeholds: to benefit from a lower bid premium through waiting to bid, contingent on rivals not emerging. An intending bidder has an incentive to acquire a toehold without bidding when the likelihood of a rival bid is low. If the toehold does not attract a ri...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
People & Global Business Association (P&GBA)
2007-03-01
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| Series: | Global Business and Finance Review |
| Subjects: | |
| Online Access: | http://www.gbfrjournal.org/pds/journal/thesis/20150623121201-A6OID.pdf |