anchor: A study in the 1980s, in fact, found that four out of every five tender offers resulted in the target being absorbed by one firm or another.
positive: In a study of 1990 it has been found out that a vast majority of tender offers resulted in the target being absorbed by one firm or another.
negative: In a study of 2010 it has been found out that a vast majority of tender offers resulted in the target being absorbed by one firm or another.