03021ntm a22005297i 4500 000729235 CZ-PrVSE 20260201122909.0 m d cr n|||||||||| 260201s2025 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Ziernwald, Karel ISIS:157895 dis Quantifying Differences in Swedish Tender Offers : Strategic vs. Financial Buyers eng Quantifying Differences in Swedish Take-Private Transactions : Strategic vs. Financial Buyers Karel Ziernwald 2025 ?? stran : digital, PDF soubor Vedoucí práce: Pavel Svačina Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví, 2026 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2026 This thesis investigates the determinants of acquisition premiums in Swedish public tender offers between 2000 and 2025, a period characterized by exceptional private equity density and capital saturation. Using multivariate OLS regression on a dataset of 550 transactions from Nasdaq Stockholm, the study analyzes whether the pressure of record “dry powder” has eroded financial sponsors’ pricing discipline. The results confirm that financial acquirers pay systematically lower premiums (approx. 7.4%) than strategic buyers, though this discount is narrower than global benchmarks, suggesting that intense competition is compressing the valuation spread. Furthermore, contrary to standard theory, hostile bids trade at a discount (-8.6%) due to the strict neutrality rule, and regulated Main Market targets command lower premiums than First North Market, suggesting higher pre-bid pricing efficiency. Způsob přístupu: Internet finance [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Acquisition Public Tender Offer Bid Premium Private Equity Nasdaq Stockholm Svačina, Pavel, 1979- mzk2006368362 ths Arlt, Josef, 1962- jo20000079968 opn Vysoká škola ekonomická v Praze. Fakulta financí a účetnictví kn20010709398 dgg https://insis.vse.cz/zp/92912/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/92912 Hlavní práce https://insis.vse.cz/zp/92912/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/92912/posudek/oponent/89405 Oponentura https://insis.vse.cz/zp/92912/priloha/33241 Přiloha k práci https://insis.vse.cz/zp/92912/podrobnosti dc:identifier NEPOSILAT VSKP vse92912 260129 92912