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S. B. Moeller, F. P. Schlingemann and R. M. Stulz, “Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave,” Journal of Finance, Vol. 60, No. 2, 2005, pp. 757-782. doi:10.1111/j.1540-6261.2005.00745.x

has been cited by the following article:

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

  AUTHORS: Sebastian Eisenbach, Christoph Ettenhuber, Dirk Schiereck, Paschen von Flotow

  KEYWORDS: Mergers and Acquisitions, Event Study, Bidder Performance, Renewable Energy Industry, Financial Crisis

  JOURNAL NAME: Technology and Investment, Vol.2 No.2, June 3, 2011

  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