Abstract

Abstract In a previous analysis of remaining stake acquisitions (see “Wanting It All: Issues When You Already Have Control,” Business Valuation Review, July 2007, p. 38), the authors analyzed 67 remaining stake acquisitions; those acquisitions indicated a range of stock premiums of 30% to 45%. To build upon that work, the authors expand their scope and evaluate a larger sample of 257 transactions in order to retest the previously indicated premium range. In addition, they analyze relative returns (the premium or discount of the remaining stake acquisition relative to its peer acquisitions) and hypothesize on and test the key drivers of those relative returns.

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