Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?

Detalhes bibliográficos
Autor(a) principal: Burmester, Daniel
Data de Publicação: 2017
Tipo de documento: Dissertação
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10362/26197
Resumo: This research investigates who is paying more for acquisitions, a public strategic investor or a private equity buyout fund. Furthermore, it investigates for which factors the investor pays more. The data consist of 935 transactions in Europe. Using data from Europe is a main distinction between the often used data from America. It is found that a target shareholder selling its shares, gets on average a 64.49% higher price from a public strategic investor compared to a private equity fund. Furthermore, it is discovered that variables like the level of cash are a driver for a higher acquisition premium.
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spelling Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?Private equityStrategic investorAcquisition premiumAbnormal returnsDomínio/Área Científica::Ciências Sociais::Economia e GestãoThis research investigates who is paying more for acquisitions, a public strategic investor or a private equity buyout fund. Furthermore, it investigates for which factors the investor pays more. The data consist of 935 transactions in Europe. Using data from Europe is a main distinction between the often used data from America. It is found that a target shareholder selling its shares, gets on average a 64.49% higher price from a public strategic investor compared to a private equity fund. Furthermore, it is discovered that variables like the level of cash are a driver for a higher acquisition premium.Leite, António NogueiraRUNBurmester, Daniel2018-01-20T01:30:27Z2017-01-202017-01-20T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/masterThesisapplication/pdfapplication/pdfhttp://hdl.handle.net/10362/26197TID:201716780enginfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:13:47Zoai:run.unl.pt:10362/26197Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:28:27.211242Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
title Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
spellingShingle Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
Burmester, Daniel
Private equity
Strategic investor
Acquisition premium
Abnormal returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
title_short Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
title_full Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
title_fullStr Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
title_full_unstemmed Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
title_sort Acquisition premium paid by different investors - public strategic investor or private equity fund, who is paying more in an acquisitionand for which factors is he paying more?
author Burmester, Daniel
author_facet Burmester, Daniel
author_role author
dc.contributor.none.fl_str_mv Leite, António Nogueira
RUN
dc.contributor.author.fl_str_mv Burmester, Daniel
dc.subject.por.fl_str_mv Private equity
Strategic investor
Acquisition premium
Abnormal returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
topic Private equity
Strategic investor
Acquisition premium
Abnormal returns
Domínio/Área Científica::Ciências Sociais::Economia e Gestão
description This research investigates who is paying more for acquisitions, a public strategic investor or a private equity buyout fund. Furthermore, it investigates for which factors the investor pays more. The data consist of 935 transactions in Europe. Using data from Europe is a main distinction between the often used data from America. It is found that a target shareholder selling its shares, gets on average a 64.49% higher price from a public strategic investor compared to a private equity fund. Furthermore, it is discovered that variables like the level of cash are a driver for a higher acquisition premium.
publishDate 2017
dc.date.none.fl_str_mv 2017-01-20
2017-01-20T00:00:00Z
2018-01-20T01:30:27Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/masterThesis
format masterThesis
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10362/26197
TID:201716780
url http://hdl.handle.net/10362/26197
identifier_str_mv TID:201716780
dc.language.iso.fl_str_mv eng
language eng
dc.rights.driver.fl_str_mv info:eu-repo/semantics/embargoedAccess
eu_rights_str_mv embargoedAccess
dc.format.none.fl_str_mv application/pdf
application/pdf
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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