This article will discuss Union regulatory approaches to cross-border mergers in the light of the fundamental freedom of establishment (Art.49 TFEU). The aim of this article is to explore the dynamics and the impact on the internal market of the multi-faceted interaction between the secondary...

When investment banks advise on merger and acquisition (M&A) transactions, are they fiduciaries of their clients, gatekeepers for investors, or simply arm's-length counterparties with no other-regarding duties? Scholars have generally treated M&A advisors as arm's-length counterparties, putting...

A growing number of policymakers and scholars are calling for tougher rules to curb corporate acquisitions. But these appeals are premature. There is currently little evidence to suggest that mergers systematically harm consumer welfare. More importantly, scholars fail to identify alternative...

Three law professors from different practice and academic backgrounds meet at the water cooler in the faculty wing of a law school in or about 2010. They get engaged in a conversation about mergers and acquisitions that covers much ground--from what a merger actually is (from the perspective of...

The acquisition premium is an enigma. Acquirers must pay it. But why if the market price is tethered to fundamental value through an efficient market? This article advances a general theory of the acquisition premium. It postulates that the premium is payment for a capitalized asset intrinsic in...

This Article explores the 2010 merger of United Airlines and Continental Airlines - which usurped Delta's briefly-held title as the world's largest airline - as well as the failed merger of Greece's two largest airlines, Olympic Air and Aegean Airlines, and the antitrust considerations...

Yvon Chouinard, founder of Patagonia, stated that "benefit corporation legislation creates the legal framework to enable mission-driven companies like Patagonia to stay mission-driven through succession, capital raises, and even changes in ownership." This article uses Patagonia, one of the most...

We investigate investors' time preferences and takeover performance outcomes in a cross-disciplinary international study. We use a cultural measure on long-term orientation (LTO) to capture investors' time preferences. Additionally, we study how investor protection and the nature of the deal...

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...

Land is one of the scarce natural resources on earth. It is not possible to either increase or decrease the land. Hence, it must be ensured that it is managed judiciously and in a sustainable manner so that the common good of the people in a long run can be ensured. Creating wealth and looking...