English (United Kingdom)

https://curated-unify.zendy.io/wp-json/zendy-region/v1/featured_content/oa?rat=en

https://curated-unify.zendy.io/wp-json/zendy-region/v1/highlighted_journal/

Global: Zendy Plus annual

Presents the access of premium content as premium feature

Premium Content

Presents the keyphrase highlighting as premium feature

Keyphrase Highlighting

Presents the summarisation as premium feature

Summarisation

Insights

Presents the pdf analysis as premium feature

PDF Analysis

Presents the zaia usage as premium feature

ZAIA

Global: Zendy Plus monthly

Global: Zendy Tools annual

Global: Zendy Tools monthly

Global: Zendy Free Plan

Toehold purchase, defined here as purchase of one share in a firm by aninvestor preparing a tender offer to acquire majority of shares in it, reducesby one the number of shares this investor needs for majority. In the paper weconstruct mathematical models for the toehold and no-toehold strategies andcompare the expected profits of the investor and the probabilities of takeoverthe firm in both strategies. It turns out that the expected profits of theinvestor in both strategies coincide. On the other hand, the probability oftakeover the firm using the toehold strategy is considerably higher comparingto the no-toehold strategy. In the analysis of the models we apply theapparatus of incomplete Beta functions and some refined bounds for centralbinomial coefficients.

Toehold Purchase Problem: A comparative analysis of two strategies