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Information Asymmetries and Investment Banking in Mergers & Acquisitions


Christine Häcker

Contents: Mergers & Acquisition Principles – Transaction Types – The Mergers & Acquisitions Process – Intermediaries – Capital Market Imperfections – Intermediaries and Perfect Capital Markets – Intermediaries and Imperfect Capital Markets – Information Asymmetry between Buyer and Seller – Reporting Regulations – Information Categories – Buyer Types – Confidentiality Agreements – Information Disclosure Dilemma for the Seller – Information Disclosure Model – Offering Price per Buyer Type – Disclosure of Private Information – Investment Banker’s Recommendation to the Seller.