SHORT CASES AND COMPANY EXAMPLES IN TEXT XXV
PREFACE XXIX
PART Ⅰ: TAKEOVERS AND MERGERS IN PRACTICE
CHAPTER 1 The Takeover Process
Change Forces
Issus Raised by M&AActivity
Merger and Tender Offer Terminology
Types of Mergers from an Economic Standpoint
Horizontal Mergers
Vertical Mergers
Conglomerate Mergers
Mergers in a Legal Framework
The Nature of Tender Offers
Risk A rbitrage in M&A Activity
Illustrative Example
The Nature of the Arbitrage Business
Arbitrage Funds
Summary
Questions
Appendix A:Merger Process Information in Proxy Statements
Appendix B:The AOL and Time Warner Merger
CHAPTER 2 The Legal and Regulatory Framework
The Main Securities Laws
Federal Securities Laws
The Operation of the Securities Acts
Tender Offer Regulation-The Williams Act
Section 13
Section 14
Insider Trading Overviewc
The Racketeer Influenced and Corrupt Organizations Act of 1970(RICO)
Court Cases and SEC Rules
Liability Under Rule 10b-5 of the 1934 Act
Other Disclosure Requirements
Disclosure Requirements of Stock Exchanges
Disclosure of Merger Talks
Regulation of Takeover Activity by the States
Developments During the 1982s
Issues with Regard to State Takeover Laws
Antitrust Policies
The Basic Antitrust Statutes
Sherman Act of 1890
Clayton Act of 1914
Hart-Scott-Rodina Act of 1976
The Antitrust Guide lines
Other Market Characteristics
Nonhorizontal Mergers
Private Antitrust Suits
State Antitrust Activity
Regulatory Bodies
Railroads
Commercial Banks
Telecommunications
International Antitrust
Canada
United Kingdom
Japan
Europe
Regulation by Publicity
Seizure of the First Exective Corporation and First Capital Life
The Hostile Takeover of the Pacific Lumber Company
Regulation by the Politics of Finance
Summary
Questions
Case 2.1 Broader Board Responsibilities
Case 2.2 Van Gorkom
Case 2.3 Revlon Inc.v. Pantry Pride
Case 2.4 Maxwell Communication v.Macmillan
Case 2.5 Paramount v.Time
Case 2.6 Paramount v.QVC Network
Case 2.7 Sandoz-Gerber
Case 2.8 United Airlines and US Airways
References
Appendix A:Legal Due Diligence Preliminary Information Request
CHAPTER 3 Accounting for M&As
Historical Background
Pooling of Interests
Defects in Pooling
FASB Elimination of Pooling
Purchase Accounting
Purchase Accounting Adjustment Entries
Amortization and Impairment Rules
Empirical Studies of Pooling Versus Purchase
Summary
Questions
Case 3.1 Wells Fargo Acquisition of First Interstate Bancorporation
Case 3.2 Time Warner（TWX）Purchase of the Turner Broadcasting System（TBS）in 1996
Case 3.3 The AOL Acquisition of Time Warner（TWX）
Case 3.4 The Pfizer Acquisition of Pharmacia
References
CHAPTER 4 Deal Structuring
Taxation and Acquisitions
Taxable Verus Nontaxable Acquisitions
The Tax Reform Act of 1986
Stock Versus Asset Purchases
Empirical Studies of Taxes and Mergers
From of Payment
Stock Mergers with Collars
Earnouts in Mergers
Summary
Questions
Case 4.1 From of Payment in the First Union and Money Store Merget
References
PART Ⅱ: M&As-THEORIES AND EMPIRICAL TESTS
PART Ⅲ: VALUATION-THE STRATEGIC PERSPECTIVE
PART Ⅳ: RESTRUCTURING
PART Ⅴ: M&A STRATEGIES
PART Ⅵ: STRATEGIES FOR CREATING VALUE
GLOSSARY
AUTHOR INDEX
SUBJECT INDEX
