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law instruments) that may alleviate the need for merger control intervention are dealt with. Also, the appropriateness of … connection with non-controlling minority shareholding acquisitions. This contribution concludes that the European merger control …
Persistent link: https://www.econbiz.de/10013057344
acquirer firm to learn the merger synergies with the target firm in advance. The realization of a synergy is uncertain ex ante …, so that a direct merger exhibits a downside risk not only for the merging candidates but also for consumers. We show that … initial minority share, becomes an insider, and learns the merger synergy. We show how this feature of PPOs affects a firm …
Persistent link: https://www.econbiz.de/10011684773
Persistent link: https://www.econbiz.de/10009009944
to the merger. We show that a PPO reduces the minimal synergy level necessary to make a merger beneficial for consumers …. It follows that an antitrust authority ignoring existing PPOs when evaluating merger proposals (which reflects the … current EU merger control regime) invites sneaky takeovers: Acquiring firms strategically use PPOs prior to a full merger …
Persistent link: https://www.econbiz.de/10009788178
Persistent link: https://www.econbiz.de/10010504784
This article finds that non-controlling minority shareholdings among competitors lower the sustainability of collusion. This is the case under an even greater variety of situations than was indicated by earlier literature. The collusion destabilizing effect of minority shareholdings is mainly...
Persistent link: https://www.econbiz.de/10011524013
Author examines the situation while the parent company controls the subsidiary and the subsidiary possess the sharing at the parent company equity. A formula for effective holding is derived and proofed for a parent-subsidiary simplified structure. A short overview of the audit consequences is...
Persistent link: https://www.econbiz.de/10013118799
ownership increases the probability that a merger deal is cross-border, successful, and the bidder takes full control of the …
Persistent link: https://www.econbiz.de/10013158587
This paper analyses lawsuits against shareholders' resolutions according to the German Stock Corporation Act (AktG) and … the German Reorganisation Act (UmwG). A merger passed at the General Annual Meeting will not move forward as long as any … lawsuit is pending with a court. In particular, mergers have to be implemented without any delay. The minority shareholders …
Persistent link: https://www.econbiz.de/10013058808
ownership increases the probability that a merger deal is cross-border, successful, and the bidder takes full control of the …
Persistent link: https://www.econbiz.de/10013148427