Mergers between listed companies.

Summary This thesis is organized around three chapters. The first one proposes a methodological guide for valuation and takeover operations. In a stock market context, this thesis analyzes the level of premium offered on the price of the target company and comes to conclusions on the scope of valuation methods. As an illustration, it is based on the analysis of real and potential transactions. In a second chapter, this thesis examines the link between the balance sheet structure and the profitability of companies before seeking to characterize the target companies of public offers in order to identify them ex ante. The third chapter focuses on the contribution of real options to the investment process. After a detailed review of the financial literature, this thesis establishes an original model for evaluating the option to invest in the presence of information costs. In addition, it analyzes the timing of the investor's public offering. The results of this empirical study prompt a rethinking of traditional criteria for strategic investment decision-making.