Economic Determinants of Legal Outcomes in Norwegian Public Compulsory Buyouts
Master thesis
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Date
2021Metadata
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- Master of Science [1703]
Abstract
In this thesis, we ask what the economic determinants are for
whether minority shareholders choose to reject the offer in a public
compulsory buyout, and for the outcome in court. We have collected
and constructed a dataset, from the year 2000 to 2020, of all
public compulsory buyouts on the Oslo Stock Exchange, and from
all three tiers of court. There has been a decreasing time trend in
this period. We find that the size of the company, the duration
of a controlling owner, and the liquidity of the stock are the most
important determinants of minority owners rejecting a buyout offer.
The courts tend to favor the minority and disregard the last
transaction price of the stock.
Description
Masteroppgave(MSc) in Master of Science in Finance - Handelshøyskolen BI, 2021