The Role of Lockups in Stock Mergers

The authors thank the editor, the associate editor, and an anonymous referee of this journal, as well as Nicolas Serrano-Velarde, Micah Officer, Fulvio Ortu, Duc Duy Nguyen, Jiying Liu, conference participants at the Corporate Finance Day at the Rotterdam School of Management, Erasmus University, and seminar participants at Bocconi University for valuable comments.