Our analysis of legal thresholds crossings in France during the years 2001 through 2003 leading to an increase in the holdings shows that they have positive wealth effects for target companies, in particular in the case of the 10% crossings resulting from an active acquiring policy from a fund. These findings do not confirm the hypothesis of operations conducted by self interested operators to the detriment of minority shareholders.
CHARLETY-LEPERS, P., FAGART, M.C. and SOUAM, S. (2009). Des conséquences positives sur la valorisation des entreprises. Revue Economique, 60(3), pp. 679-691.