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Tender Offer
In corporate finance, a tender offer is a type of public takeover bid. The tender offer is a public, open offer or invitation (usually announced in a newspaper advertisement) by a prospective acquirer to all stockholders of a publicly traded corporation (the target corporation) to tender their stock for sale at a specified price during a specified time, subject to the tendering of a minimum and maximum number of shares. In a tender offer, the bidder contacts shareholders directly; the directors of the company may or may not have endorsed the tender offer proposal. To induce the shareholders of the target company to sell, the acquirer's offer price is usually at a premium over the current market price of the target company's shares. For example, if a target corporation's stock was trading at $10 per share, an acquirer might offer $11.50 per share to shareholders on the condition that 51% of shareholders agree. Cash or securities may be offered to the target company's shareholders, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Takeover
In business, a takeover is the purchase of one company (the ''target'') by another (the ''acquirer'' or ''bidder''). In the UK, the term refers to the acquisition of a public company whose shares are publicly listed, in contrast to the acquisition of a private company. Management of the target company may or may not agree with a proposed takeover, and this has resulted in the following takeover classifications: friendly, hostile, reverse or back-flip. Financing a takeover often involves loans or bond issues which may include junk bonds as well as a simple cash offer. It can also include shares in the new company. Takeover types Friendly takeover A ''friendly takeover'' is an acquisition which is approved by the management of the target company. Before a bidder makes an offer for another company, it usually first informs the company's board of directors. In a private company, because the shareholders and the board are usually the same people or closely connected with on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Finance
Corporate finance is an area of finance that deals with the sources of funding, and the capital structure of businesses, the actions that managers take to increase the Value investing, value of the firm to the shareholders, and the tools and analysis used to allocate financial resources. The primary goal of corporate finance is to Shareholder value, maximize or increase valuation (finance), shareholder value.SeCorporate Finance: First Principles Aswath Damodaran, New York University's Stern School of Business Correspondingly, corporate finance comprises two main sub-disciplines. Capital budgeting is concerned with the setting of criteria about which value-adding Project#Corporate finance, projects should receive investment funding, and whether to finance that investment with ownership equity, equity or debt capital. Working capital management is the management of the company's monetary funds that deal with the short-term operating balance of current assets and Current liability, cu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Largest Mergers And Acquisitions
The following tables list the largest mergers and acquisitions by decade of transaction. Transaction values are given in the US dollar value for the year of the merger, adjusted for inflation. , the largest ever acquisition was the 1999 takeover of Mannesmann by Vodafone Airtouch PLC, Vodafone Airtouch plc at $183 billion ($ billion adjusted for inflation). AT&T appears in these lists the most times with five entries, for a combined transaction value of $311.4 billion. Mergers and acquisitions are notated with the year the transaction was initiated, not necessarily completed. Mergers are shown as the market value of the combined entities. Free market enterprises 1870s Top 2 M&A deals worldwide by value from 1870 to 1879: 1880s Top 2 M&A deals worldwide by value from 1880 to 1889: 1890s Top 2 M&A deals worldwide by value from 1890 to 1899: 1900s Top 3 M&A deals worldwide by value from 1900 to 1909: 1910s Top 3 M&A deals worldwide by value from 1910 to 1919: 1920s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Contract Awarding
A contract is an agreement that specifies certain legally enforceable rights and obligations pertaining to two or more parties. A contract typically involves consent to transfer of goods, services, money, or promise to transfer any of those at a future date. The activities and intentions of the parties entering into a contract may be referred to as contracting. In the event of a breach of contract, the injured party may seek judicial remedies such as damages or equitable remedies such as specific performance or rescission. A binding agreement between actors in international law is known as a treaty. Contract law, the field of the law of obligations concerned with contracts, is based on the principle that agreements must be honoured. Like other areas of private law, contract law varies between jurisdictions. In general, contract law is exercised and governed either under common law jurisdictions, civil law jurisdictions, or mixed-law jurisdictions that combine elem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of a company, business organization, or one of their operating units is transferred to or consolidated with another entity. They may happen through direct absorption, a merger, a tender offer or a hostile takeover. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is the legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. Most countries require mergers and acquisitions to comply with antitrust or competition law. In the United States, for example, the Cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond Exchange Offer
In finance, corporate law and securities law, an exchange offer is a form of tender offer in which securities are offered as consideration instead of cash. In a bond exchange offer, bondholders may consensually exchange their existing bonds for another class of debt or equity securities. Companies may often seek to exchange their securities to extend maturities, reduce debt outstanding or convert debt into equity. See also *Financing *Tender offer In corporate finance, a tender offer is a type of public takeover bid. The tender offer is a public, open offer or invitation (usually announced in a newspaper advertisement) by a prospective acquirer to all stockholders of a publicly traded corp ... References Bond market {{econ-stub he:הצעת רכש#הצעת רכש חליפיןclea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond Tender Offer
A Bond Tender Offer (BTO), also called a Debt Tender Offer (DTO), is a corporate finance term denoting the process of a firm retiring its debt by making an offer to its bondholders to repurchase a specific number of bonds at a specified price and specified time. Firms use these offers to refinance or restructure their current capital structure. On the open market, many debt securities trade below their face value, thus making repurchase of debt attractive to a firm. In the case of a BTO, the firm offers to buy bonds above their market value, although still below face value. However, these are generally non-negotiable with the offeree since only a minimum amount of the bond repurchases are allowed. See also *Tender offer *Bond exchange offer * Mini-tender offer *Mergers and acquisitions References {{Reflist Corporate finance Tender offer In corporate finance, a tender offer is a type of public takeover bid. The tender offer is a public, open offer or invitation (usually anno ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Gains Tax In The United States
In the United States, individuals and corporations pay a tax on the net total of all their capital gains. The tax rate depends on both the investor's tax bracket and the amount of time the investment was held. Short-term capital gains are taxed at the investor's ordinary income tax rate and are defined as investments held for a year or less before being sold. Long-term capital gains, on dispositions of assets held for more than one year, are taxed at a lower rate. Current law The United States taxes short-term capital gains at the same rate as it taxes ordinary income. Long-term capital gains are taxed at lower rates shown in the table below. ( Qualified dividends receive the same preference.) However, taxpayers pay no tax on income covered by deductions: the standard deduction (for 2022: $12,950 for an individual return, $19,400 for heads of households, and $25,900 for a joint return), or more if the taxpayer has over that amount in itemized deductions. Amounts in excess of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schedule 13D
Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer must promptly update the Schedule 13D filing to reflect any material change in the facts disclosed, including, among other things, the acquisition or disposition of 1% or more of the class of securities that are the subject of the filing. Form uses 13D filings allow the investing public to see who a public company's large shareholders are, and, perhaps more importantly, why they have an interest in the company. These filings may be a precursor to hostile takeovers, company breakups, and other "change of control" events. Reading the form Schedule 13D consists of seven different sections: * Security and Issuer - This section contains basic information regarding the type and class of the security and the contact information of the owner ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schedule TO
Schedule TO is a required filing form of the United States Securities and Exchange Commission. Under the United States federal Securities Exchange Act of 1934, parties who will own more than five percent of a class of a company's securities after making a tender offer for securities registered under the Act must file a Schedule TO with the SEC. The SEC also requires any person acquiring more than five percent of a voting class of a company's Section 12 registered equity securities directly or by tender offer to file a Schedule 13D Schedule 13D is an SEC filing that must be submitted to the US Securities and Exchange Commission within 10 days by anyone who acquires beneficial ownership of more than 5% of any class of publicly traded securities in a public company. A filer mu .... SEC filings {{US-law-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Securities And Exchange Commission
The United States Securities and Exchange Commission (SEC) is an independent agencies of the United States government, independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its primary purpose is to enforce laws against market manipulation. Created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act), the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, and the Sarbanes–Oxley Act, Sarbanes–Oxley Act of 2002, among other statutes. Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public company, public companies and other regulated entities submit quarterly and annual ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
