The First International Merger Wave (and the Fifth and Last U.S. Wave)
Bernard S. Black
Northwestern University - Pritzker School of Law; Northwestern University - Kellogg School of Management; European Corporate Governance Institute (ECGI)
As published in University of Miami Law Review, Vol. 54, pp. 799-818, 2000
This article presents international evidence on takeover activity, and uses that evidence to argue that the current takeover wave can fairly be called the first-ever international merger wave, as much or more than it can be called the fifth U.S. merger wave. I also discuss the factors that contribute to the strength of the current takeover wave and why the takeover boom has engendered so little political concern.
Note: This is a revision of a previously announced paper.
Number of Pages in PDF File: 24
JEL Classification: G34
Date posted: June 12, 2000