欧盟委员会在并购监管中的新兴角色:波音-麦道案例

The Emerging Role of the European Commission in Merger and Acquisition Monitoring: The Boeing–McDonnell Douglas Case

European Financial Management · 2001
被引 7
人大 A-ABS 3

中文导读

评估欧共体第4064/89号条例对非欧洲公司的适用后果,以波音-麦道合并案为例,分析股市异常回报显示委员会禁令威胁起初不被市场相信,但波音求助美国政府后委员会角色凸显。

Abstract

The object of this study is to evaluate the consequences of the application of the EEC Regulation 4064/89 to non–European companies. We focus on the Boeing–McDonnell Douglas merger case, one of the first non–European mergers considered by the Commission. The analysis of abnormal returns on the two securities shows that the threat of a ban of the merger by the Commission were not perceived as credible at first. But when Boeing decided to ask the support of the American government, just after the decision of the European Commission to extend its investigations to the long term exclusivity contracts, the role of the Commission emerged.

欧盟并购监管波音-麦道案非欧盟企业异常收益