[PDF][PDF] From IPO to M&A: further evidence

SB Amor, M Kooli - The Journal of Wealth Management, 2017 - efmaefm.org
We investigate the acquisition motive for initial public offerings. Specifically, we adopt
survival analysis technique in order to examine both the likelihood of the M&A event and its …

Merger‐Motivated IPOs

A Hovakimian, I Hutton - Financial management, 2010 - Wiley Online Library
In this paper, we find support for initial public offerings (IPOs) motivated by subsequent
acquisition activity. Over a third of newly public firms enter the market for corporate control as …

Do acquisitions affect IPO long-run performance? Evidence from single vs. multiple acquirers

SB Amor, M Kooli - Journal of International Financial Markets, Institutions …, 2016 - Elsevier
Prior research does not consider the case of IPO firms making frequent acquisitions after
going public and treat all transactions as a one-time deal. We distinguish between frequent …

The choice of IPO versus takeover: Empirical evidence

JC Brau, B Francis, N Kohers - The Journal of Business, 2003 - JSTOR
We examine factors that influence the choice between an initial public offering (IPO) and a
takeover by a public acquirer. Our results show that the industry concentration, high‐tech …

How an IPO helps in M&A

U Celikyurt, M Sevilir… - Journal of Applied …, 2010 - Wiley Online Library
An initial public offering (IPO) can often provide a powerful stimulus to private companies
seeking to pursue an acquisition‐driven growth strategy. Based on a comprehensive …

Acquisition activity and IPO underpricing

TJ Boulton, SB Smart, CJ Zutter - Financial Management, 2010 - Wiley Online Library
We propose an “M&A activity” hypothesis as a partial explanation for initial public offering
(IPO) underpricing. When going public during active corporate control markets, managers …

Can investors anticipate post-IPO mergers and acquisitions?

CW Anderson, J Huang, G Torna - Journal of Corporate Finance, 2017 - Elsevier
Given the frequency and value implications of post-IPO merger and acquisition activity, we
investigate empirically whether investors can utilize information based on IPO deal structure …

Acquisition activities of initial public offerings in Europe: An analysis of exit and growth strategies

W Bessler, J Zimmermann - Midwest Finance Association 2012 …, 2011 - papers.ssrn.com
Initial public offerings (IPOs) often engage in mergers and acquisitions (M&As) subsequent
to going public which can reflect either exit or growth strategies. We analyze 2,679 …

Going public to acquire? The acquisition motive in IPOs

U Celikyurt, M Sevilir, A Shivdasani - Journal of Financial Economics, 2010 - Elsevier
Newly public firms make acquisitions at a torrid pace. Their large acquisition appetites reflect
the concentration of initial public offerings (IPOs) in mergers and acquisitions-(M&A-) …

Are private equity backed initial public offerings any different? Timing, information asymmetry and post-IPO survival

D Michala - Journal of Corporate Finance, 2019 - Elsevier
The IPO market provides an interesting setting for examining the behavior of private equity
(PE) sponsors due to the higher information asymmetries it involves compared to other exit …