Takeovers and Stockholders: Winners and Losers
研究发现收购通常导致收购方股东负回报，而目标公司股东是赢家，提醒收购方需考虑股东利益。
Corporate acquisitions normally cause negative returns for the shareholders of the acquiring firm. Targeted firm shareholders usually are the winners. The acquiring firms need to consider what is in the best interests for their shareholders when considering acquiring another firm.