This knol discusses how to structure fixed and variable share for share exchange ratios to preserve value in M&A deals.
Mergers can be described from a legal perspective and an economic perspective. This distinction is relevant to discussions concerning deal structuring, regulatory issues, and strategic planning. The purpose of this article is to help clarify some of the terms commonly involved in discussing M&As and other types of corporate restructuring.
The purpose of this Knol is to estimate the actual price paid by Comcast for an ownerhip interest in the joint venture created by General Electric and Comcast. The actual purchase is estimated at more than 67 percent higher than the figure widely quoted in the media. An estimate of the implied control premium and minority/liquidity discount are also provided.
This article illustrates the motivation behind split-offs as a restructuring strategy and how they are often implemented to complete a merger.
A holding company framework often is used as an investment vehicle in corporate takeovers. The intent of this article is to identify the advantages and disadvantages of using this type of structure as an acquisition vehicle.
All completed transactions end in negotiated settlements. Most are initiated on a friendly basis. However, almost one in five bids represents a hostile takeover attempt. This article attempts to clarify the dfferences between the two and why most transactions are of a friendly nature.
The intent of this article is to explain how so-called poison pills often are deployed by firms in an attempt to negotiate higher purchase prices from potential bidders or to thwart unwanted takeover attempts. A numerical example is provided to illustrate how they may work in practice.
This article attempts to summarize the key elements of common bidding strategies undertaken in corporate takeovers.
This collection of knols addresses the use of proxy contests, hostile tender offers, deal structuring issues, and how to develop bidding strategies.
This knol collection discusses issues related to leveraged buyouts.