Abstract
One of the primary motives behind any strategic corporate decision is to maximise shareholder value. Strategic decisions for UK construction firms are made with the objective of maximising the wealth of the company's shareholders. This paper investigates the financial performance of UK construction companies, which have been involved in construction related mergers and acquisitions and examines the impact of merger announcements on acquiring firms' and target firms' stock performance in the UK construction industry. It also examines abnormal share returns throughout a period surrounding the announcement of both successful and unsuccessful acquisition and merger bids. The overall results indicate that related construction mergers create wealth for shareholders of the target firms.
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