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How Are the Gains from Mergers Distributed Between the Shareholders

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How are the gains from mergers distributed between the shareholders of the acquired and acquiring firms?


Definitions:

State Militias

Military forces maintained by the states of the United States, which can be called upon for service during emergencies, natural disasters, or for defense purposes, separate from the federal armed forces.

Breakthrough

A significant or sudden advance, discovery, or achievement that overcomes a significant obstacle or opens up new possibilities.

Le Duc Tho

A Vietnamese revolutionary and politician who was awarded the Nobel Peace Prize in 1973, which he declined, for his role in the Paris Peace Accords intending to end the Vietnam War.

Peace Is at Hand

A phrase famously used by Henry Kissinger in 1972 indicating that an end to the Vietnam War was imminent, though the war continued for several more years.

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