The theory of the “M&A curse” has it that the benefits of a deal generally go to the seller, while the buyer’s share price often slides after a deal is done.
However, a new study shows that in the case of Chinese companies acquiring UK counterparts, such hoodoo appears to be absent.
“Most, or almost all, M&A deals show a significant share price decline (of the buyer) when the deals are announced,” said Scott Moeller, professor at Cass Business School in London. But, he added, Chinese companies acquiring firms in the UK generally see an uptick in their shares as deals are announced.
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