Mergers and acquisitions (M&As) always attract headlines, but could investors glean more than just news updates from the financial press releases published during a deal bid? Some academics believe they can. Investigations by a team from France, Italy and Australia have found that sentiments expressed in press statements by a target firm during an M&A process can be a good indicator of how well a takeover bid will go. More "positive sentiment” in press releases from managers at a target business can increase the firm’s stock returns. Disagreement in statements written for reporters “lowers the likelihood of merger success and increases the time to deal completion”. Meanwhile, the team found that positive press relea