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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Principles of Corporate Finance

ISBN: 978-0072869460

7th edition

Authors: Richard A. Brealey, Stewart C. Myers

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