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SHAREHOLDER GAINS FROM TAKEOVERS AND RESTRUCTURINGS BETWEEN 1981 AND 1986: $162 BILLION IS A LOT OF MONEY
Authors:Bernard S. Black   Joseph A. Grundfest
Affiliation:Has been counsel to Commissioner Grundfest since January 1987. Beginning in July 1988, he will be Associate Professor of Law at Columbia University. From 1983 to 1987, Mr. Black practiced in the area of mergers and acquisitions, securities and corporate law with Skadden, Arps, Slate, Meagher &Flom in New York City. Mr. Black also holds graduate degrees in physics from the University of California at Berkeley.;Has served as a Commissioner of the SEC since 1985. Mr. Grund-fest, who is both attorney and economist, joined the Commission from the Council of Economic Advisers in the Executive Office of the President, where he was counsel and senior economist for legal and regulatory matters. Mr. Grundfest is author or co-author of numerous research reports and publications dealing with a range of topics: contests for corporate control, insider trading, international securities regulation, regulation of markets subject to kickback schemes, and the economics and regulation of broadcasting.
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