Securities regulation : hostile corporate takeovers, synopses of thirty-two attempts : fact sheet for the Chairman, Subcommittee on Oversight and Investigations, Committee on Energy and Commerce, House of Representatives

Resource Information

The work Securities regulation : hostile corporate takeovers, synopses of thirty-two attempts : fact sheet for the Chairman, Subcommittee on Oversight and Investigations, Committee on Energy and Commerce, House of Representatives represents a distinct intellectual or artistic creation found in University of Missouri Libraries. This resource is a combination of several types including: Work, Language Material, Books.

Label

Securities regulation : hostile corporate takeovers, synopses of thirty-two attempts : fact sheet for the Chairman, Subcommittee on Oversight and Investigations, Committee on Energy and Commerce, House of Representatives

Title remainder

hostile corporate takeovers, synopses of thirty-two attempts : fact sheet for the Chairman, Subcommittee on Oversight and Investigations, Committee on Energy and Commerce, House of Representatives

Statement of responsibility

United States General Accounting Office

Title variation

Hostile corporate takeovers, synopses of thirty-two attempts

Creator

• United States, General Accounting Office

Subject

• Consolidation and merger of corporations -- United States -- Case studies
• Corporate reorganizations -- United States -- Case studies
• Case studies
• Government publications -- United States

Genre

• Government publications
• Case studies

Language

eng

Summary

• Pursuant to a congressional request, GAO provided information on 32 hostile corporate takeover attempts initiated in 1985, focusing on the: (1) terms, conditions, and stated purposes of the tender offers; (2) amount of target company stock held by bidders and target company management; (3) bidding companies' financing sources and terms; (4) bidding and target companies' financial advisers and their fees; (5) bidding and target companies' actions before and after the initial tender offers; and (6) outcomes of takeover attempts
• GAO found that: (1) 12 hostile takeovers were successful; (2) 10 target companies remained independent; and (3) friendly, third-party businesses acquired 10 businesses targeted for attempted hostile takeovers. GAO also found that: (1) stated purposes for takeover attempts included acquiring equity interest, merging or combining businesses, acquiring company control, and liquidating businesses; (2) most target companies were aware of the bidding company's interest prior to the takeover attempt; (3) bidding companies' financing sources included credit agreements, capital contribution, securities borrowing or sales, and personal funds; (4) target companies' defensive actions included litigation, stock buy-back, business mergers, reorganization, assets sales, recapitalization, and shareholder buy-outs; (5) bidding companies typically, but not always, held a larger percentage of the target companies' stock than the target companies; and (6) both bidding and target companies typically had agreements with financial advisers to pay them according to the success of the venture

Dewey number

338.8/3/0973

Government publication

federal national government publication

Index

no index present

LC call number

HD2746.5

LC item number

.S43 1988

Literary form

non fiction