Beginning Consolidation in the Renewable Energy Industry and Bidders’ M & A-Success

Abstract

In this paper we examine stock price reactions to mergers and acquisitions in a particular industry, the renewable energy industry. We focus on acquirers and document positive abnormal returns on a sample of 337 completed M {&} A-transactions announced during 2000 to 2009. We show that acquirer size, market-to-book ratio and deals announced in the recent financial crisis negatively correlate with acquirer returns. Acquirers from outside the renewable industry tend to earn positive abnormal results. [ABSTRACT FROM AUTHOR] Copyright of Technology {&} Investment is the property of Scientific Research Publishing and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)