Ranieri, Michele (A.A. 2024/2025) Merger arbitrage strategies: an empirical assessment of return performance and FX risk hedging in European and US M&A transactions. Tesi di Laurea in M&A and investment banking, Luiss Guido Carli, relatore Luigi De Vecchi, pp. 141. [Master's Degree Thesis]

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Abstract/Index

Event-driven strategies and the M&A framework. Introduction to event-driven investing. Evolution and structure of the M&A industry. Risk and return drivers in M&A transactions. Merger arbitrage as an investment strategy: mechanisms, risks and market evidence. Definition and rationale of risk arbitrage. Deal structures and strategies in merger arbitrage. Specific risks in merger arbitrage. Currency risk, hedging strategies and transaction costs in merger arbitrage. Empirical analysis of returns: dataset, strategy and results. Methodology, data collection and sample composition. Return calculation methodology and strategic assumptions. Empirical results–European merger arbitrage deals. Empirical results–US merger arbitrage deals: impact of currency hedging. Empirical results profitability assessment and strategic implications: abnormal returns, transaction costs and tactical guidance.

References

Bibliografia: pp. 128-131.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree program in Corporate Finance, English language (LM-77)
Chair:	M&A and investment banking
Thesis Supervisor:	De Vecchi, Luigi
Thesis Co-Supervisor:	Salvati, Andrea
Academic Year:	2024/2025
Session:	Summer
Deposited by:	Alessandro Perfetti
Date Deposited:	31 Oct 2025 15:45
Last Modified:	31 Oct 2025 15:45
URI:	https://tesi.luiss.it/id/eprint/43621

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