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BNET Business Dictionary
- Takeover
- the acquisition by a company of a controlling interest in the voting share capital of another company, usually achieved by the purchase of a majority of the voting stocks
- Takeover definition on BNET »
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- The Budweiser Wars: Where's Lou Dobbs?
- Maybe I've missed it, but I have been waiting for CNN pundit Lou Dobbs to weigh in on the foreign invasion of an American icon -- Budweiser beer. After finding its initial $65 a share bid for Anheuser-Busch Companies rebuffed, InBev SA, the Belgian-Brazilian brewer of such...
- Blog posts 2008-07-07
- Takeovers, Freezouts, and Risk Arbitrage
- This paper develops a dynamic model of tender offers in which there is trading on the target's shares during the takeover. It also tells about the condition where bidders can freeze out target shareholders compulsorily acquire remaining shares not tendered at the bid price, and features that prevail on almost...
- White papers 2001-03-01
- Elan Stock Keeps Rising Despite Denial of BMS Takeover
- Elan's stock continues to float on the idea that BMS is about to buy some or all of the company. by Jim Edwards
- Blog posts 2009-06-02
- Energy Roundup: Obama's Green Week, Takeovers and Bidding Wars, and More
- Massive offshore drilling proposal delayed for further review -- The Obama Administration this week continued its effort to undo some of President Bush's last-minute drilling and environmental decisions. Interior Secretary Ken Salazar on Tuesday stalled a five-year drilling plan that would affect some 300 million offshore acres. Salazar hasn't scrapped...
- Blog posts 2009-02-17
- For M&A Activity, 2008 Was a Bust Year
- Despite all of the merging in the financial commmunity, 2008 actually has been a bust year for M&A activity. A record number of deals were cancelled leading to big drops in fees for investment bankers, according to London's Financial Times. This year saw 1,309...
- Blog posts 2008-12-23
- Pirate Bay deal runs into choppy waters
- A deal to turn The Pirate Bay, the world's largest file-sharing website, into a legal operation was in doubt on Wednesday ahead of its proposed SKr60m ($8.3m) takeover by a Swedish software group.Shareholders in Global Gaming Factory GGF were scheduled to vote on Thursday on its plan to buy...
- External links 2009-08-26
- Eidos confirms takeover approach
- Video games publisher Eidos is confirming that it has received a takeover approach from an unnamed company, prompting its shares to climb 42% on the same day. The company is reportedly in discussions about a possible deal after disappointing Christmas sales. ...
- Articles 2009-01-19
- Trust Following Acquisitions: A Three-Country Comparative Study of Employee Reactions to Takeovers
- The study presented in this paper examined how characteristics of the takeover situation and the acquiring firm's integration decisions and actions influence target firm members' trust in the acquiring firm management. A policy-capturing approach was used to model individuals' trust decisions following takeovers in a cross-national sample of German, Canadian...
- White papers 2003-03-11
- Do Takeovers Create Value? A Residual Income Approach on UK Data
- This paper develops and empirically tests a new methodology for evaluating the financial performance of takeovers. The existing accounting and event study methodologies do not adequately address the key issue of whether takeovers are a positive net present value investment for the acquiring company. The methodology attempts this by employing...
- White papers 2002-12-01
- Hostility in Takeovers: In the Eyes of the Beholder?
- This paper examines whether hostile takeovers can be distinguished from friendly takeovers, empirically, based on accounting and stock performance data. Much has been made of this distinction in both the popular and the academic literature, where gains from hostile takeovers result from replacing incumbent managers and gains from friendly takeovers...
- White papers 2000-12-01
- Management Needs New Strategy to Protect Company's Assets
- Corporate mergers as well as friendly and unfriendly takeovers are reaching epidemic proportions and they are draining management's time and company resources. In the long run, many companies are exhausted by takeovers that provide a quick profit to purchasers, but leave the company devastated or divided. Hostile takeovers are battles...
- White papers 2003-01-01
- Hostile Takeovers: A Primer for the Decision-Maker
- This paper introduces the reader to the dynamics of the hostile takeover setting, and characterizes the decision problem as a "game." In this context, it is necessary to understand other players and their modes of thought, defensive tactics, and rules laws and court precedents by which players compete. The survey...
- White papers 2000-01-01
- A Theory of Takeover Bidding
- In this paper, a model of takeover bidding is presented. Grossman and Hart (1980a) argue that small shareholders in a diffusely held firm would hold on to their shares rather than tendering and earn the higher post-takeover return. This "free rider" problem precludes profitable takeovers from ever occurring. ...
- White papers 2000-05-16
- A Way to Play the InBev and Anheuser-Busch Takeover
- Andy Singh submits:The difficulty in closing funding for some recently concluded corporate takeovers has presented an arbitrage profit opportunity for investors willing to take some risk. In particular I refer to the $52 billion mega takeover of U.S. brewer Anheuser-Busch BUD, the company that is famous for Budweiser Beer, by...
- External links 2008-10-26
Additional Resources
- Bargaining In The Shadow Of Takeover Defenses
- Among the arguments that have been put forward to support the view that takeover defenses increase shareholder returns when a company becomes a takeover target, the "bargaining power hypothesis" is the most commonly cited argument today. Under this theory, takeover defenses allow the target to extract more in a negotiated...
- White papers 2003-08-12
- An American Perspective On The New German Anti-Takeover Law
- The new German Takeover Act contains anti-takeover provisions that reject the "board neutrality/shareholder choice" of the rejected draft of the 13th Directive. These anti-takeover provisions may have a particular albeit temporary justification as part of negotiating strategy to obtain a Directive with a "level playing field" approach to a wide...
- White papers 2003-02-01
- Does Takeover Increase Stockholder Value
- A question which always arises is that does takeover increase stockholder value? - Yes. This, modify the calendar-time portfolio regressions CTPRs approach to measure the abnormal returns of a takeover portfolio composed exclusively of successful bidders and targets from 1963 to 1995. This technique balances the positive announcement-period stock price...
- White papers 2000-02-29
- A New Approach to Takeover Law and Regulatory Competition
- The development of U.S. state takeover law in the past three decades has produced considerable and quite possibly excessive protection for incumbent managers from hostile takeovers. Although the shortcomings of state takeover law have been widely recognized, there has been little support for federal intervention because of the concern that...
- White papers 2001-03-01
- Unite expresses concern over Thomson takeover of Reuters.
- LONDON, UNITED KINGDOM, May 15, 2007 CCNMatthews via COMTEX -- Unite, the UK's largest trade union, has expressed its concern at the potential takeover of Reuters by Thomson saying it fears that the takeover will result in large scale job loses. LONDON, UNITED KINGDOM,...
- Research articles 2007-05-15
- BP is moving forward on veba takeover. (News: Europe).(British Petroleum Company PLC, Veba AG)(Brief Article)(Statistical Data Included)
- BP MOVED quickly last week to clinch its takeover of Veba Oil, the German oil, refining and petrochemicals producer, by agreeing to pay E.ON, Veba's parent, around $4 billion for the company. The takeover appeared to be in danger of collapsing ...
- Research articles 2002-02-04
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