Merger Arbitrage, en sektorspecifik studie
This thesis aims to investigate excess returns created by a modified form of merger arbitrage in a specific sector. By modifying the common strategy used, data from mergers and acquisitions where the payment method includes a mixture of stocks and cash could be included in the sample of 74 Mergers and Acquisitions deriving from the American Oil Market in 2003-2012. It is proven that the calculated