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“Hostile” takeovers an investment performance of acquirers and targets
Dissertation (MBA)--University of Pretoria, 2006.
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| Format: | Thesis |
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University of Pretoria
2013
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| _version_ | 1867613489862803456 |
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| access_status_str | Open Access |
| author2 | Saville, Adrian |
| author_browse | Saville, Adrian |
| author_facet | Saville, Adrian |
| collection | Thesis |
| dc_rights_str_mv | © 2006 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria |
| description | Dissertation (MBA)--University of Pretoria, 2006. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/23631 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:36:58.250Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/23631 “Hostile” takeovers an investment performance of acquirers and targets Saville, Adrian upetd@up.ac.za Hansen, Arne UCTD Mergers and acquisitions (M&A) Dissertation (MBA)--University of Pretoria, 2006. Mergers and acquisitions (M&A) can be either “hostile” or “friendly” in nature. This study looks at the corresponding long-term investment performance of “hostile” and “friendly” takeovers within the mining sector, pre and post the takeover of targets, with the aim to investigate whether there are statistically significant differences about which the investor community should be aware.36 months of monthly share price performance, pre and post first formal merger/takeover announcement date, are studied, for each acquirer is compared with the bourse mining index to calculate the percentage time the acquirer outperforms the market (mining index). Research of the major mining stock exchanges of the world – New York, Toronto, Australia, London and Johannesburg – reveals that the investment performances of “hostile” acquiring mining companies, pre first formal announcement date, are statistically significantly greater than post first formal announcement date. No statistically significant difference was found pre and post first announcement date for “friendly” acquiring mining companies. Although clear differences in post first formal announcement date investment performance are noted between “hostile” acquirers and “friendly” acquirers, there is no statistically significant difference between the investment performances of “friendly” versus “hostile” acquirers. Gordon Institute of Business Science (GIBS) unrestricted 2013-09-06T15:43:05Z 2010-06-23 2013-09-06T15:43:05Z 2007-04-08 2006 2010-03-30 Dissertation Hansen, A 2006, ”Hostile” takeovers and investment performance of acquirers and targets, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/23631 > G10/235/ag http://hdl.handle.net/2263/23631 http://upetd.up.ac.za/thesis/available/etd-03302010-143733/ © 2006 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria application/pdf University of Pretoria |
| spellingShingle | UCTD Mergers and acquisitions (M&A) “Hostile” takeovers an investment performance of acquirers and targets |
| title | “Hostile” takeovers an investment performance of acquirers and targets |
| title_full | “Hostile” takeovers an investment performance of acquirers and targets |
| title_fullStr | “Hostile” takeovers an investment performance of acquirers and targets |
| title_full_unstemmed | “Hostile” takeovers an investment performance of acquirers and targets |
| title_short | “Hostile” takeovers an investment performance of acquirers and targets |
| title_sort | hostile takeovers an investment performance of acquirers and targets |
| topic | UCTD Mergers and acquisitions (M&A) |
| url | http://hdl.handle.net/2263/23631 http://upetd.up.ac.za/thesis/available/etd-03302010-143733/ |