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Cambridge Business Magazine: It pays to hire your target’s former advisers


Acquiring firms that hire targets’ former advisors pay lower takeover premiums and reduce the likelihood of competing bids, says study co-authored by Dr Xin Chang, University Senior Lecturer in Finance at Cambridge Judge Business School. “We found that hiring targets’ ex-advisors provided a clear bargaining advantage and allows them to do the acquisition at a better price with fewer competing bids,” says Chang.

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