On the Acquisition of Equity Carve-Outs

摘要: We examine the role played by parent’s motive in undertaking a carve-out; post-IPO influence over carved-out subsidiary; and anti-takeover provisions industry structure of carve-out on its acquisition likelihood premium. find that probability hazard increases when objective is to unlock value subsidiary parent are tied with product-market relationship. also ownership significantly affects level Additional analyses examining status suggest impact relationship increase re-acquisition.