European evidence on the profitability and characteristics of merger arbitrage

Votta, Lorenzo (A.A. 2021/2022) European evidence on the profitability and characteristics of merger arbitrage. Tesi di Laurea in Chair of alternative investments, Luiss Guido Carli, relatore Marco Morelli, pp. 112. [Master's Degree Thesis]

PDF (Full text)
Download (1MB) | Preview


Alternative investments industry. Event-driven hedge funds. Merger arbitrage. M&A deal types and relative merger arbitrage strategy. Risks in merger arbitrage. Literature review. The efficient market hypothesis and its developments. Profitability and risk-return characteristics of merger arbitrage. Limitations of earlier literature on merger arbitrage. Research question and sub-questions. Research data and analysis. Country data: Western Europe M&A. Deal data: all-cash deals, all-stock deals, mixed deals. Portfolio returns. Portfolio construction. Comparing profitability between deal types. Real-life merger arbitrage simulations: William Hill-888, Luxottica-Essilor, Twitter-Musk.


Bibliografia: pp. 92-96.

Thesis Type: Master's Degree Thesis
Institution: Luiss Guido Carli
Degree Program: Master's Degree Programs > Master's Degree Program in Economics and Finance (LM-56)
Chair: Chair of alternative investments
Thesis Supervisor: Morelli, Marco
Thesis Co-Supervisor: Carlini, Federico Carlo Eugenio
Academic Year: 2021/2022
Session: Autumn
Uncontrolled Keywords: Tesi discussa all'estero.
Deposited by: Alessandro Perfetti
Date Deposited: 25 Jan 2023 14:49
Last Modified: 25 Jan 2023 14:49


Downloads per month over past year

Repository Staff Only

View Item View Item