The art of being defensive
Article Abstract:
UK company directors often use a variety of tactics to sabotage or prevent a hostile takeover, usually in defense of their own position within the company which they feel will be jeopardized if another management team is used. These actions usually go against the City Code regarding takeovers and mergers, which specify directors should inform shareholders and take legal advise as to the best course of action for the firm, rather than for themselves. Shareholders are notified through a defence document, which can be drawn up deliberately to deter a merger or takeover.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Swedes get tough on big stakeholders
Article Abstract:
Companies listed on the Stockholm Stock Exchange will be required to become more transparent about large stake purchases from Jul 1, 1999. New legislation will mean that a bid must be extended to all shareholders if the acquired stake brings control over more than 40% of voting rights. The principal owner will also have the right to demand that the hostile bidder puts forward an offer for all shares in the company. Article also details recent acquisition and merger deals in Sweden, including the sale of crispbread manufacturer Wasa to Italian pasta concern Barilla.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
New competition laws could produce watershed for utilities M&A
Article Abstract:
UK water regulator Ian Byatt announced at the end of Jan 2000 that he was no longer against mergers in the water industry. The government's willingness to allow mergers between water companies will be tested by Thames Water's planned takeover of Anglian Water. However, many observers feel that a bid may not be made for some time. Byatt has strengthened his approach with the launch on Mar 1, 2000, of the Competition Act, under which water companies will have easier access to parts of the UK in which they are not currently present.
Publication Name: Acquisitions Monthly
Subject: Business, international
ISSN: 0952-3618
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Caught in the crossfire: bidding war edges out small shareholders
- Abstracts: The art of evasion. Deutsche's foray into America will offer little to its shareholders. Berlin rues the cost of capital
- Abstracts: The downside of mobile. To the Finland base station. The global mobile
- Abstracts: Charity moves off-campus. Faraway thoughts: distance learning. Unoccupied
- Abstracts: The microbes get to work. Forced to be free. In search of the new Japanese dream