Inside the Black Box of Private Merger Negotiations

By Tingting Liu and Micah S. Officer June 18, 2019 by renholding

Several authors (Boone and Mulherin, 2007[1]; Aktas, de Bodt, and Roll, 2010[2]) have noted a paradox in the mergers and acquisition (M&A) market since 1990. While there have been few competing public bidders, hostile offers, or …

How Property Rights Contributed to the Evolution of Takeover Auctions

By Tingting Liu, J. Harold Mulherin and William O. Brown March 7, 2018 by renholding

Ronald Coase (1959, 1960)[1] [2] insightfully noted that with well-defined property rights, resources flow to their highest-valued use. In a recent paper, we apply this view of property rights to the corporate takeover market in the United States. Observers …

Auctioneers as Market Makers and Their Role in Managing Price Momentum

By Tanjim Hossain, Fahad Khalil and Matthew Shum April 6, 2017 by renholding

Whether in large auction markets involving worldwide sales of, say, automobiles or in more specialized forums like the Tsukiji, Tokyo, fish market, auctioneers provide a platform for buyers and sellers to interact.[1] They also play an important role in …

The CLS Blue Sky Blog

Columbia Law School's Blog on Corporations and the Capital Markets

auctions

Inside the Black Box of Private Merger Negotiations

How Property Rights Contributed to the Evolution of Takeover Auctions

Auctioneers as Market Makers and Their Role in Managing Price Momentum