Cosh, A; Guest, P - ESRC Centre for Business Research - 2001
This paper examines the long-run pre- and post-takeover performance of hostile takeovers in the U.K. from 1985 …-96. Prior to takeover, targets in hostile takeovers experience a significant deterioration in profit returns, and significantly …. Bidders in hostile takeovers are not superior performers in terms of profit levels, although share returns are significantly …