The Liquidation/Merger Alternative

Abstract

This scholarly book provides a rationale as to why specific companies that appear to be on the brink of corporate collapse are taken over rather than entering into receivership or liquidation. When this study first appeared in 1990, the bankruptcy/merger alternative had received scant attention in published commentary. This book helped to fill the gap by providing new empirical evidence for the UK corporate sector as well as a number of statistical models to investigate whether it was possible to discriminate between "distressed" acquired firms and ones that failed.