sf_4 unit2 corp restructuring_ intro
TRANSCRIPT
Intro. to Corporate Restructuring
Guess what is the Corporation up to?
MERGER
ACQUISITION
JOINT VENTURE
TENDER OFFER
ASSET ACQUISITION
SPIN-OFF
SPLIT-OFF
SPLIT-UP
DIVESTITURE
EQUITY CARVE OUT
GREEN MAIL – T.O. DEFENSE
WHITE KNIGHT – T.O.DEFENSE
WHITE SQUIRE
These were some options…..
CORPORATE RESTRUCTURING
• These are activities related to expansion/contraction of a firm’s operations or activities related to changes in its assets or ownership structure.
• The most common forms of Corporate Restructuring are – mergers, amalgamation, acquisition, divestiture, demerger, etc.
Classification of Corp. Res. Options
1. EXPANSION
MERGERS
TENDER OFFER
JOINT VENTURE
2. SELL-OFFS
SPIN-OFFS
SPLIT –OFF
SPLIT-UP
DIVESTITURE
Classification of Corp. Res. Options
3.CORPORATE CONTROL
PREMIUM BUY BACK
STANDSTILL AGREEMENT
ANTI-TAKEOVER AMMENDMENT
PROXY CONTESTS
4. CHANGES IN OWNE SHIP STRUCTURE
EXCHANGE OFFERS
SHARE REPURCHASES
GOING PRIVATE
LEVERAGED BUY-OUT
DISINVESTMENT