Corporate Argumentation In Takeover Bids

Author : Rudi Palmieri
Publisher : John Benjamins Publishing Company
Page : 274 pages
File Size : 44,5 Mb
Release : 2014-11-15
Category : Language Arts & Disciplines
ISBN : 9789027269461

Get Book

Corporate Argumentation in Takeover Bids by Rudi Palmieri Pdf

This volume systematically investigates the role of argumentation in takeover bids. The announcement of these financial proposals triggers an argumentative situation, in which both the economic desirability and the social acceptability of the deal become argumentative issues for different classes of stakeholders (shareholders, employees, customers, etc.). The study focuses on the strategic maneuvers that corporate directors deploy in order to persuade their audiences while complying with precise regulatory requirements, designed to allow shareholders to make reasonable decisions. A conceptual reframing of takeovers as an argumentative context brings to light the different argumentative situations of friendly and hostile bids. The argumentative strategies that corporate directors adopt in the two situations are identified and analyzed on the basis of a corpus of takeover documents referring to offers launched in the UK market between 2006 and 2010. The argumentative reconstruction focuses in particular on the inferential configuration of arguments, which is accomplished by means of the Argumentum Model of Topics (AMT). This kind of analysis enables capturing the inherently argumentative processes through which information becomes a relevant starting point for investment decisions.

Author : Edmund J. Kelly
Publisher : iUniverse
Page : 186 pages
File Size : 52,7 Mb
Release : 2001-01-28
Category : Electronic
ISBN : 9780595163663

Get Book

The Takeover Dialogues by Edmund J. Kelly Pdf

A longtime critic of hostile cash takeovers of large corporations, Edmund Kelly believed that if the organized insincerity of advisors and corporate control entrepreneurs in the tight knit takeover community was told, this alone would contribute to a decline in the acceptance of the hostile bid as an acquisition method. Copies of The Takeover Dialogues were purchased primarily in 1988 by investment and commercial banking and corporate law firms, executives and business libraries. Prominent uninvited cash takeover bids averaged 17 a year for the period 1985 - 1988. There were 6 in 1989 and 2 in 1990. For the years 1991 -1999 they averaged 1.2 a year. In these carefully reasoned dialogues, Edmund Kelly also examines the impact of corporate raids on the business community and society. Kelly believes the ideal corporation translates capital and human energy into a community service institution that is ultimately greater than the sum of its parts. This book raises important questions of public policy about issues affecting the institutions upon which we all depend for our continued prosperity. It is important reading for anyone concerned about the future of corporate business in a capitalistic society.

Author : Lucian A. Bebchuk,Oliver D. Hart
Publisher : Unknown
Page : 37 pages
File Size : 52,5 Mb
Release : 2001
Category : Consolidation and merger of corporations
ISBN : OCLC:248222957

Get Book

Takeover Bids Vs. Proxy Fights in Contests for Corporate Control by Lucian A. Bebchuk,Oliver D. Hart Pdf

This paper evaluates the primary mechanisms for changing management or obtaining control in publicly traded corporations with dispersed ownership. Specifically, we analyze and compare three mechanisms: (1) proxy fights (voting only); (2) takeover bids (buying shares only); and (3) a combination of proxy fights and takeover bids in which shareholders vote on acquisition offers. We first show how proxy fights unaccompanied by an acquisition offer suffer from substantial shortcomings that limit the use of such contests in practice. We then argue that combining voting with acquisition offers is superior not only to proxy fights alone but also to takeover bids alone. Finally, we show that, when acquisition offers are in the form of cash or the acquirer's existing securities, voting shareholders can infer from the pre-vote market trading which outcome would be best in light of all the available public information. Our analysis has implications for the ongoing debates in the US over poison pills and in Europe over the new EEC directive on takeovers

Author : Lucian A. Bebchuk
Publisher : Unknown
Page : 63 pages
File Size : 48,5 Mb
Release : 2002
Category : Antitakeover strategies
ISBN : OCLC:248917516

Get Book

The Case Against Board Veto in Corporate Takeovers by Lucian A. Bebchuk Pdf

This paper argues that once undistorted shareholder choice is ensured -- which can be done by making it necessary for hostile bidders to win a vote of shareholder support -- boards should not have veto power over takeover bids. The paper considers all of the arguments that have been offered for board veto -- including ones based on analogies to other corporate decisions, directors' superior information, bargaining by management, pressures on managers to focus on the short-run, inferences from IPO charters, interests of long-term shareholders, aggregate shareholder wealth, and protection of stakeholders. Examining these arguments both at the level of theory and in light of all available empirical evidence, the paper concludes that none of them individually, nor all of them taken together, warrants a board veto. Finally, the paper discusses the implications that the analysis has for judicial review of defensive tactics

Author : Frans H. Van Eemeren,Frans Hendrik Eemeren,Bart Garssen
Publisher : John Benjamins Publishing
Page : 419 pages
File Size : 55,6 Mb
Release : 2012
Category : Language Arts & Disciplines
ISBN : 9789027211217

Get Book

Exploring Argumentative Contexts by Frans H. Van Eemeren,Frans Hendrik Eemeren,Bart Garssen Pdf

In Exploring Argumentative Contexts Frans H. van Eemeren and Bart Garssen bring together a broad variety of essays examining argumentation as it occurs in seven communicative domains: the political context, the historical context, the legal context, the academic context, the medical context, the media context, and the financial context. These essays are written by an international group of argumentation scholars, consisting of Corina Andone, Sarah Bigi, Robert T. Craig, Justin Eckstein, Frans H. van Eemeren, Norman Fairclough, Eveline Feteris, Gerd Fritz, Bart Garssen, Kara Gilbert, Thomas Gloning, G. Thomas Goodnight, Dale A. Herbeck, Darrin Hicks, Thomas Hollihan, Jos Hornikx, Isabela Ietcu-Fairclough, Gábor Kutrovátz, Maurizio Manzin, Davide Mazzi, Dima Mohammed, Rudi Palmieri, Angela G. Ray, Patricia Riley, Robert C. Rowland, Peter Schulz, Karen Tracy, and Gergana Zlatkova.

Author : Lucian A. Bebchuk,Oliver D. Hart
Publisher : Unknown
Page : 56 pages
File Size : 48,8 Mb
Release : 2001
Category : Antitakeover strategies
ISBN : UVA:X006133603

Get Book

Takeover Bids Versus Proxy Fights in Contests for Corporate Control by Lucian A. Bebchuk,Oliver D. Hart Pdf

Author : Rodd Levy,Neil Pathak
Publisher : Lawbook Company
Page : 415 pages
File Size : 45,9 Mb
Release : 2008-01-01
Category : Consolidation and merger of corporations
ISBN : 0455224420

Get Book

Takeovers by Rodd Levy,Neil Pathak Pdf

First published in 1996, TAKEOVERS LAW & STRATEGY is well-known as a practical and easy-to-understand guide to the laws, procedures and strategies relevant to takeover bids in Australia. Since the second edition was published in 2002, there has been a significant increase in the number and size of takeover bids, which has led to important developments in the strategies used in takeovers in Australia. Key developments examined in the new edition include: new techniques for bidders, such as bear hug conditions, pre-bid acceptance agreements, virtual variations and institutional acceptance facilities; the emergence of public to private bids conducted by private equity firms; and the implications of approximately 200 new decisions and 13 new guidance notes issued by the Takeovers Panel since 2002. TAKEOVERS LAW & STRATEGY contains a comprehensive analysis of each step involved in a takeover bid and the relevant requirements under the Corporations Act, the Foreign Acquisitions and Takeovers Act, the Listing Rules of the Australian Securities Exchange, the Trade Practices Act and other relevant legislation. The book is an essential reference for anyone involved in a takeover including lawyers, company executives, investment bankers and stockbrokers. It is also a useful guide for students.

Author : Alexander V. Laskin
Publisher : John Wiley & Sons
Page : 544 pages
File Size : 44,6 Mb
Release : 2017-09-07
Category : Language Arts & Disciplines
ISBN : 9781119240808

Get Book

The Handbook of Financial Communication and Investor Relations by Alexander V. Laskin Pdf

The first book to offer a global look at the state-of-the-art thinking and practice in investor relations and financial communication Featuring contributions from leading scholars and practitioners in financial communication and related fields—including public relations, corporate communications, finance, and accounting— this volume in the critically acclaimed “Handbooks in Communication and Media” seriesprovides readers with a comprehensive, up-to-date picture of investor relations and financial communications as they are practiced in North America and around the world. The Handbook of Financial Communication and Investor Relations provides an overview of the past, present, and future of investor relations and financial communications as a profession. It identifies the central issues of contemporary investor relations and financial communications practice, including financial information versus non-financial information, intangibles, risk, value, and growth. Authors address key topics of concern to contemporary practitioners, such as socially responsible investing, corporate governance, shareholder activism, ethics, and professionalism. In addition, the book arms readers with metrics and proven techniques for reliably measuring and evaluating the effectiveness of investor relations and financial communications. Bringing together the most up-to-date research on investor relations and financial communication and the insights and expertise of an all-star team of practitioners, The Handbook of Financial Communication and Investor Relations: Explores how the profession is practiced in various regions of the globe, including North America, South America, Europe, the Middle East, India, Australia, and other areas Provides a unique look at financial communication as it is practiced beyond the corporate world, including in families, the medical profession, government, and the not-for-profit sector Addresses “big-picture” strategies as well as specific tactics for financial communication during crises, the use of social media, dealing with shareholder activism, integrated reporting and CSR, and more This book makes an ideal reference resource for undergrads and graduate students, scholars, and practitioners studying or researching investor relations and financial communication across schools of communication, journalism, business, and management. It also offers professionals an up-to-date, uniquely holistic look at best practices in financial communication investor relations worldwide.

Author : Erika Darics
Publisher : Cambridge University Press
Page : 241 pages
File Size : 47,5 Mb
Release : 2022-08-04
Category : Language Arts & Disciplines
ISBN : 9781108484497

Get Book

Language Awareness in Business and the Professions by Erika Darics Pdf

Demonstrates that language awareness and discourse consciousness are key for critical thinking and communication in professional contexts.

Author : Hicham Meghouar
Publisher : John Wiley & Sons
Page : 240 pages
File Size : 51,7 Mb
Release : 2016-04-11
Category : Business & Economics
ISBN : 9781848219175

Get Book

Corporate Takeover Targets by Hicham Meghouar Pdf

The term "takeover", of which the first form is mergers and acquisitions (M&A), refers to the transfer of control of a business from one group of shareholders to another. Considering the importance of this issue and the real drives behind takeovers, it has become imperative to identifying companies that are vulnerable to takeover by two types: tender offer and exchange offer. This book thus presents the legal aspects, the theoretical justifications and the empirical contributions of takeovers, and analyzes the economic and financial characteristics of targets in order to assess the probability of being acquired. An empirical approach based on two quantitative studies is then applied to the European market, which is still virgin territory in terms of academic research. Finally, acquisition probability models have been developed and they have a 72% forecast accuracy average rate of targets. Corporate Takeover Targets is aimed at students and researchers in economic and management, as well as M&A consultants.

Author : Rebecca G. Schär
Publisher : John Benjamins Publishing Company
Page : 178 pages
File Size : 55,6 Mb
Release : 2021-04-15
Category : Language Arts & Disciplines
ISBN : 9789027259936

Get Book

An Argumentative Analysis of the Emergence of Issues in Adult-Children Discussions by Rebecca G. Schär Pdf

This book traces the issue in argumentative discussions from its emergence to its evolution. The book makes use of naturally occurred data of spoken argumentation to investigate how an issue is raised and possibly negotiated in argumentative discussions between young children (aged 2 to 6 years) and adults. The author proposes a typology of the emergence of issues based on the argumentative agency of the interlocutors. Moreover, the investigation sheds light on how issues evolve through negotiation among the involved interlocutors and how issues may be related to the interlocutors’ endoxa. By applying an interdisciplinary approach including argumentation theory (the pragma-dialectical model of a critical discussion and the Argumentum Model of Topics) as well as sociocultural developmental psychology this work allows for a careful consideration of the many aspects that come into play when young children start or engage in an argumentative discussions with adults.

Author : Eddo Rigotti,Sara Greco
Publisher : Springer
Page : 325 pages
File Size : 52,6 Mb
Release : 2018-12-10
Category : Language Arts & Disciplines
ISBN : 9783030045685

Get Book

Inference in Argumentation by Eddo Rigotti,Sara Greco Pdf

This book investigates the role of inference in argumentation, considering how arguments support standpoints on the basis of different loci. The authors propose and illustrate a model for the analysis of the standpoint-argument connection, called Argumentum Model of Topics (AMT). A prominent feature of the AMT is that it distinguishes, within each and every single argumentation, between an inferential-procedural component, on which the reasoning process is based; and a material-contextual component, which anchors the argument in the interlocutors’ cultural and factual common ground. The AMT explains how these components differ and how they are intertwined within each single argument. This model is introduced in Part II of the book, following a careful reconstruction of the enormously rich tradition of studies on inference in argumentation, from the antiquity to contemporary authors, without neglecting medieval and post-medieval contributions. The AMT is a contemporary model grounded in a dialogue with such tradition, whose crucial aspects are illuminated in this book.

Author : Alan J. Auerbach
Publisher : University of Chicago Press
Page : 354 pages
File Size : 54,5 Mb
Release : 2013-12-30
Category : Business & Economics
ISBN : 9780226032160

Get Book

Corporate Takeovers by Alan J. Auerbach Pdf

The takeover boom that began in the mid-1980s has exhibited many phenomena not previously observed, such as hostile takeovers and takeover defenses, a widespread use of cash as a means of payment for targeted firms, and the acquisitions of companies ranking among the largest in the country. With the aim of more fully understanding the implications of such occurances, contributors to this volume consider a broad range of issues as they analyze mergers and acquisitions and study the takeoveer process itself.

Author : Andrea Rocci
Publisher : Springer
Page : 488 pages
File Size : 47,8 Mb
Release : 2017-03-08
Category : Language Arts & Disciplines
ISBN : 9789402410631

Get Book

Modality in Argumentation by Andrea Rocci Pdf

This book addresses two related questions that have first arisen in Toulmin’s seminal book on the uses of argument. The first question is the one of the relationship between the semantic analysis of modality and the structure of arguments. The second question is the one of the distinctive place, or role, of modality in the fundamental structure of arguments. These two questions concern how modality, as a semantic category, relates to the fundamental structure of arguments. The book addresses modality and argumentation also according to another perspective by looking at how different linguistic modal expressions may be taken as argumentative indicators. It explores the role of modal expressions as argumentative indicators by using the Italian modal system as a case study. At the same time, it uses predictions/forecasts in the business-financial daily press to investigate the relation between modality and the context of argumentation.

Author : Arthur Fleischer
Publisher : Unknown
Page : 140 pages
File Size : 45,7 Mb
Release : 1978
Category : Tender offers (Securities)
ISBN : LCCN:78010681

Get Book

Responses to Takeover Bids by Arthur Fleischer Pdf