The content of this paper is adapted from two studies of contested takeover bids. These studies, and this paper, are attempts to add to the limited research conducted in the UK into the share price performance of companies involved in mergers and acquisitions. Research directed specifically at defended takeover bids is even more limited and only one piece of research (Holl and Taffler, 1988) to date has addressed this particular topic in the UK.
Parkinson, C. and Ian Shaw, M. (1991), "The Pre‐Bid Share Price Performance of Target Companies Involved in the Successful and Unsuccessful Defence of a Hostile Takeover Bid: A Pilot Study", Managerial Finance, Vol. 17 No. 6, pp. 1-9. https://doi.org/10.1108/eb013685
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