"Initial Public Offerings (IPOs) are also examples of auctions. And, when companies buy other companies – the infamous mergers and acquisitions – the winner’s curse is present more often than not. Astoundingly, **more than half of all acquisitions destroy value**, according to a McKinsey study." -- --- **Tags** — [[quotes]], [[winner-curse]] , [[corporate-law]], [[ecm-law]], [[corporate-finance]], [[mergers-and-acquisitions]], [[acquisitions]], [[endowment-effect]] **Source** — [[202308101525 — B — The Art of Thinking Clearly]]