2016•Unpublished venueRequires access

THE SHORT-TERM EFFECTS OF MERGERS AND ACQUISITIONS IN THE NIGERIAN BANKS

Ibrahim Magaji Barde, Muhammad Salisu

Abstract

The prevalence of mergers and acquisitions all over the world is due to its (seemingly) dual role of financial activity as well as an investment strategy. We investigated whether or not mergers and acquisitions has the ability to increase shareholders wealth in the short term. The paper uses data from Deposit Money Banks in Nigeria to test the hypotheses that mergers and Acquisitions causes significant changes in the value of the acquirer banks and also that it has significant impact on their abnormal returns. Evidence failed to uphold these hypotheses suggesting that mergers and acquisition is more of a financial activity than an investment strategy.

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Key concepts: Mergers and acquisitions, Shareholder, Business, Investment (military), Term (time), Financial system, Monetary economics, Value (mathematics)