In Italy the first firm to bid for a target is allowed to revise its offer, but
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In Italy the first firm to bid for a target is allowed to revise its offer, but subsequent bidders may enter only one bid and they are not allowed to revise it. What do you think is the reason for this rule? Do you think that it should be introduced in the United States?
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There are many possible reasons for this rule which gives the first firm a significant advan...View the full answer
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Related Book For
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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