Analysts’ Connections and M&A Outcomes

The authors thank Pat Akey (discussant), Eitan Goldman (chair), Rajesh Aggarwal, Radha Gopalan, Jayant Kale, Xiumin Martin, and Rodrigo Wagner, as well as conference and seminar participants at the 2017 Financial Intermediation Research Society Conference-Hong Kong, 2018 Financial Management Association Annual Meeting-San Diego, 2018 International Finance and Banking Society, 2019 FMA Global-Bogota, Northeastern University, Adolfo Ibãnez University, University of Chile, and University of Montevideo for helpful comments. A previous version of this paper has been circulated as “Too Much Information? The Role of Analyst Commonality in M&A.”