The market for corporate control had been the playfield of bust-up
artists and speculators seeking short-time profits during the 1980s.
This had also encouraged many innovations in the art of hostile takeover
defence. Until today anti-takeover defence has reached a very
sophisticated level and most companies have erected formidable defences
to counter aggressive corporate raiders. With her book Jeanette Gorzala
provides a global perspective on hostile take-over defence during the
latest merger wave. The focus lies on firstly determining the most
common anti-takeover defence strategies and then in a second step
evaluating their effectiveness to ward off corporate raiders. For this
purpose the underlying concepts of the formal theory are presented in
order to serve as a fundamental basis for an empirical study. In order
to underline the theory with empirical evidence a sample of 335 hostile
takeover bids launched in the timeframe from January 1, 2003 to December
31, 2008 has been analyzed. The key findings of the study are presented
along two vital research questions reflecting the purpose of this book.