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himanshumh

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tT
发表于 2011-7-11 20:10 | 只看该作者

take over and merger

difference, between
what the difference is between them? Thanks.

 

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sameeragarwal

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2#
发表于 2011-7-11 20:10 | 只看该作者
Two companies, A and B.

1. If B is a subsidiary of A, then both A and B exist.
2. In a statutory merger, only A exists.
3. In a consolidation, both A and B disappear, and C(A+B) exists.

So, it depends on the type of takeover that's occurring, takeover could be (1) or (2) above.
Chime in please.

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eoin

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3#
发表于 2011-7-11 20:10 | 只看该作者
Acquisition = Company A buys sub of Company B (not entire company)

There are three types of mergers
A merges with B, both A and B remain (B functions almost as a subsidiary of A)
A merges with B, only A remains (B is absorbed into A)
A merges with B, create a new company C.

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Houjichasan

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4#
发表于 2011-7-11 20:10 | 只看该作者
in which case it is a takeover not a merger? Thanks

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mp3bu

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5#
发表于 2011-7-11 20:10 | 只看该作者
Adding on the Dreary

Merge:
Subsidiary: A + B = A, B
Statutory Merger: A + B = A
Consol : A + B = C

I think merger and takeover are a matter of perspective and "wording". Takeover is from the controlling point of view and merger encompasses different types of takeover/acquisition/merge.

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ryanlb

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6#
发表于 2011-7-11 20:10 | 只看该作者
the reason I ask this question is because I recall one of the schweser mock exam, listed some defense, in the answer, it said white knight is a takeover defense, not for merger, etc.
it also listed bear hug, staggered..., tender offer, proxy vote, etc, which are defense for merger/acquisition..

I will post the question once I saw it again.

joseph213 Wrote:
-------------------------------------------------------
> Adding on the Dreary
>
> Merge:
> Subsidiary: A + B = A, B
> Statutory Merger: A + B = A
> Consol : A + B = C
>
> I think merger and takeover are a matter of
> perspective and "wording". Takeover is from the
> controlling point of view and merger encompasses
> different types of takeover/acquisition/merge.

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