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The lack of an effect on the wealth of acquirer shareholders in reaction to a takeover announcement may be due to Multiple Choice returns to
The lack of an effect on the wealth of acquirer shareholders in reaction to a takeover announcement may be due to Multiple Choice returns to shareholders changing over time. the expected gains from the takeover being already reflected in the company's share price. the expectation of the ability of the acquirer to undertake the takeover the inefficiency of the market in incorporating such information.
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