Control actions - Regulatory problems in control transactions - Agency and coordination issues
3 important questions on Control actions - Regulatory problems in control transactions - Agency and coordination issues
What are the defensive measures that the incumbent management of a target may have to block transfers of a control transaction? TQ
P 207-208
1. Placing a block of the target's shares in the hands of persons not likely to accept a hostile bid
2. Structuring the rights of the shareholders and creditors, for example, through poison pills
3. Placing strategic assets outside the reach of a successful bidder
1. Placing a block of the target's shares in the hands of persons not likely to accept a hostile bid
2. Structuring the rights of the shareholders and creditors, for example, through poison pills
3. Placing strategic assets outside the reach of a successful bidder
What is the constituency statute in the US? TQ
P 209
The constituency statute: a state antitakeover statute, targeted at ensuring survival and promoting the interest of non-shareholder groups of the target company, such as employees
The constituency statute: a state antitakeover statute, targeted at ensuring survival and promoting the interest of non-shareholder groups of the target company, such as employees
What is another way except for the constituency statute that employees can promote their interests in a takeover? TQ
P 210
Employee representatives are often members of the supervisory board. (happens in Germany)
Employee representatives are often members of the supervisory board. (happens in Germany)
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