Related Research Articles
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, business organizations, or their operating units are transferred to or consolidated with another company or business organization. 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.
A shareholder rights plan, colloquially known as a "poison pill", is a type of defensive tactic used by a corporation's board of directors against a takeover.
In business, a takeover is the purchase of one company by another. In the UK, the term refers to the acquisition of a public company whose shares are listed on a stock exchange, in contrast to the acquisition of a private company.
In corporate finance a stock swap is the exchange of one equity-based asset for another, where, during the merger or acquisition, the swap provides an opportunity to pay with stock rather than with cash; see Mergers and acquisitions § Stock.
Interbrew is subsidiary of Anheuser-Busch InBev SA/NV is based in Breda, Netherlands. It has one subsidiary, Ambev S.A. of São Paulo, Brazil.
Euronext N.V. is a pan-European bourse that provides trading and post-trade services for a range of financial instruments.
A reverse takeover (RTO), reverse merger, or reverse IPO is the acquisition of a public company by a private company so that the private company can bypass the lengthy and complex process of going public. Sometimes, conversely, the public company is bought by the private company through an asset swap and share issue. The transaction typically requires reorganization of capitalization of the acquiring company.
The Jonestown defense is an extreme corporation defense against hostile takeovers. In this strategy, the target firm engages in tactics that might threaten the firm’s existence to thwart an imposing acquirer’s bids. This is also known as a "suicide pill", and is an extreme version of the poison pill. The term refers to the 1978 Jonestown mass suicide in Guyana, where Jim Jones led the members of the Peoples Temple to kill themselves.
Killer bees are firms or individuals that are employed by a target company to fend off a takeover bid. These include investment bankers (primary), accountants, attorneys, tax specialists, etc. They aid by utilizing various anti-takeover strategies, thereby making the target company economically unattractive and acquisition more costly. Corporations defend against these strategies using so-called 'shark repellents.'
The term standstill agreement refers to various forms of agreement which businesses may enter into in order to delay action which might otherwise take place.
The National Bank of Detroit (NBD), later renamed NBD Bank, was a bank that operated mostly in the Midwestern United States. Following its merger with First National Bank of Chicago, the bank was ultimately acquired and merged into Bank One, at which point the NBD name was discontinued. Today, what was once NBD is owned by JPMorgan Chase & Co.
First Union Corporation was a bank holding company that provided commercial and retail banking services in eleven states in the eastern U.S. First Union also provided various other financial services, including mortgage banking, credit card, investment banking, investment advisory, home equity lending, asset-based lending, leasing, insurance, international and securities brokerage services and private equity through First Union Capital Partners, and through other subsidiaries.
Suncorp Group Limited is an Australian finance, insurance, and banking corporation based in Brisbane, Queensland, Australia. It is one of Australia's mid-size banks and its largest general insurance group, formed on 1 December 1996 by the merger of Suncorp, Metway Bank and the Queensland Industry Development Corporation (QIDC).
Citizens and Southern National Bank (C&S) began as a Georgia institution that expanded into South Carolina, Florida and into other states via mergers. Headquartered in Atlanta, Georgia; it was the largest bank in the Southeast for much of the 20th century. C&S merged with Sovran Bank in 1990 to form C&S/Sovran in hopes of fending off a hostile takeover attempt by NCNB Corporation. Only a year later, however, C&S/Sovran merged with NCNB to form NationsBank, which forms the core of today's Bank of America.
A squeeze-out or squeezeout, sometimes synonymous with freeze-out, is the compulsory sale of the shares of minority shareholders of a joint-stock company for which they receive a fair cash compensation.
Firstar Corporation was a Milwaukee, Wisconsin-based regional bank holding company that existed from 1853 to 2001. In 2001, Firstar acquired U.S. Bancorp and assumed its name, moving its headquarters to Minneapolis.
Viterra Limited is a Canadian grain handling business, that began as the nation's largest grain handler, with its historic formative roots in prairie grain-handling cooperatives, among them the iconic Saskatchewan Wheat Pool. Viterra Inc grew into a global agri-business with operations in Canada, the United States, Australia, New Zealand and China. Viterra operated three distinct, inter-related businesses: Grain Handling & Marketing, Agri-Products and Processing, enabling it to generate earnings at various points on the food production chain from field to the table. Following its $6.1-billion acquisition by Glencore International, on 1 January 2013, Viterra was merged with Glencore purchaser, 8115222 Canada Inc., headquartered in Rotterdam, the Netherlands.
London Stock Exchange Group plc is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange, Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb.
The following is a glossary which defines terms used in mergers, acquisitions, and takeovers of companies, whether private or public.
Gulf Canada was a Canadian integrated petroleum company that existed between 1944 and 2001. Gulf Oil Corporation began operating in Canada in 1942, and two years later formed a Canadian subsidiary called the Canadian Gulf Oil Company. In 1956 Canadian Gulf Oil merged with the British American Oil Company and until 1969 operated under the British American name. In 1969, British American amalgamated with its subsidiaries into a new company called Gulf Oil Canada Limited.
References
- ↑ Auerbach, Alan J.; Richard S. Ruback (1987). "3 An Overview of Takeover Defenses". Mergers and acquisitions. Chicago: University of Chicago Press. pp. 49–68. ISBN 0-226-03209-4.
