Search results for "Merger"
showing 10 items of 79 documents
A dust-enshrouded tidal disruption event with a resolved radio jet in a galaxy merger
2018
Tidal disruption events (TDEs) are transient flares produced when a star is ripped apart by the gravitational field of a supermassive black hole (SMBH). We have observed a transient source in the western nucleus of the merging galaxy pair Arp 299 that radiated >1.5 × 10 erg at infrared and radio wavelengths but was not luminous at optical or x-ray wavelengths. We interpret this as a TDE with much of its emission reradiated at infrared wavelengths by dust. Efficient reprocessing by dense gas and dust may explain the difference between theoretical predictions and observed luminosities of TDEs. The radio observations resolve an expanding and decelerating jet, probing the jet formation and evol…
Big Data and Antitrust Enforcement
2017
The interaction between information, innovation and market outcomes is shaping the modern digital industries of the 21st century: the business models of search engines, social networks, e-commerce websites and marketplaces are highly reliant on the ability to gather and process large amount of data. At the same time, it is increasingly recognized that the use of Big Data by online platforms and intermediaries has far-reaching consequences not only on economic activity, but also on social and political mechanisms: technological developments affecting information flows affect the organization of markets as well as the nature of individual interactions and the functioning of the political proc…
BUSINESS CAPABILITIES AND HR KNOWLEDGE’ AS THE CRITICAL FACTOR OF DUE DILIGENCE IN PRE-ACQUISITION PHASE
2016
Previous theoretical research has argued that due diligence in the pre-acquisition phase is traditionally oriented towards legal and financial matters. However, in the innovation-driven market environment, where firms need to maintain competitive strength, business skills and knowledge play important roles. Despite this difference, the due diligence research continues in traditional areas, e.g., financial history, legal and commercial liabilities, and tax issues. Hence, the problem may arise in acquirers overpaying or mistakenly rejecting a target firm. There is a need for assessing ‘Business Capabilities and Human Resources Knowledge’ for due diligence in the pre-acquisition phase. Based o…
The Idiosincrancies of the European M&A Market
2020
This paper provides a comprehensive descriptive analysis of the European market of mergers and acquisitions (MA 2) method of payment; 3) geographical scope; 4) target’s attitude; 5) bidders’ competition; 6) industry relatedness; 7) public status of the firms involved; and 8) acquirers’ ownership of targets before and after the transaction. Additionally, we identify the similarities and differences of this market with those of the dominant market worldwide, namely the US. Both markets show similar trends in their activity and the occurrence of waves concentrated around economic shocks. However, the European market notably exhibits higher levels of friendly and cash deals.
The nationality of companies in French law
2012
The development of international economic relations and the construction of an integrated European area, both from an economic and a political point of view, has revived the debate on the nationality of trading companies. The question is not so much whether trading companies have a nationality on an equal footing with natural persons – solutions have long been accepted by international doctrine and jurisprudence – but rather to determine how this notion has evolved and adapted to the constraints on the one hand, of a globalized market economy and, on the other hand, of European Union law which overturns the traditionally accepted solutions of nationality of trading companies into the legal …
GW170817: Implications for the Stochastic Gravitational-Wave Background from Compact Binary Coalescences
2018
The LIGO Scientific and Virgo Collaborations have announced the first detection of gravitational waves from the coalescence of two neutron stars. The merger rate of binary neutron stars estimated from this event suggests that distant, unresolvable binary neutron stars create a significant astrophysical stochastic gravitational-wave background. The binary neutron star background will add to the background from binary black holes, increasing the amplitude of the total astrophysical background relative to previous expectations. In the Advanced LIGO-Virgo frequency band most sensitive to stochastic backgrounds (near 25 Hz), we predict a total astrophysical background with amplitude $\Omega_{\rm…
Congenital secretory diarrhoea caused by activating germline mutations in GUCY2C
2016
Objective Congenital sodium diarrhoea (CSD) refers to a form of secretory diarrhoea with intrauterine onset and high faecal losses of sodium without congenital malformations. The molecular basis for CSD remains unknown. We clinically characterised a cohort of infants with CSD and set out to identify disease-causing mutations by genome-wide genetic testing. Design We performed whole-exome sequencing and chromosomal microarray analyses in 4 unrelated patients, followed by confirmatory Sanger sequencing of the likely disease-causing mutations in patients and in their family members, followed by functional studies. Results We identified novel de novo missense mutations in GUCY2C, the gene encod…
Concentrazioni [dir. comm.]
2015
Il controllo delle concentrazioni è, insieme alla repressione delle intese restrittive della concorrenza e degli abusi di posizione dominante, parte essenziale di tutte le discipline antitrust vigenti nel modo industrializzato. La disciplina italiana, contenuta nella l. n. 287/90, è largamente ispirata a quella europea, introdotta con il Reg. n. 4064/89, anche se tra i due sistemi sussistevano alcune differenze, per lo più limitate ad aspetti procedimentali. Con il Reg. 139/04 la disciplina europea ha però subito modifiche anche di rilievo sostanziale, alle quali il legislatore italiano non ha ritenuto, fino ad oggi, di doversi conformare. Merger control is, along with the repression of ant…
A future European FDI screening system: solution or problem?
2019
The establishment of a mechanism at the European level for screening FDI, on the grounds of national security and public order, constitutes a major step in implementing the EU investment policy. To create an effective system, it must be based on clear common rules, provide certainty and ensure judicial redress.
Efectos de las fusiones bancarias en los resultados. El caso de las cajas rurales en España durante la primera mitad de la década de 2000
2010
ResumenDurante los últimos diez años se han producido numerosos episodios de fusiones entre cajas rurales españolas. El objetivo del trabajo es analizar el efecto que las fusiones entre cajas rurales llevadas a cabo durante la primera mitad de la década del 2000 han tenido sobre los niveles de rentabilidad, eficiencia y productividad y sobre el comportamiento estratégico de estas entidades. Para ello, se han seleccionado las fusiones realizadas durante el período considerado y se han analizado diferentes variables en comparación con la media del sector (grupo de control) para los cinco años anteriores y posteriores a la fusión. El estudio demuestra que las fusiones en las cajas rurales espa…