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Essay / Research Paper Abstract
This 14 page paper considers the ways in which a UK company may be able to protect itself form a take over, and the position of these tactics according to the law. The paper includes cases such as attempted take over of Distillers by Guinness and the cases with Argyle. The paper then considers if there is a fair balance in the way that the current legal framework is enforced. The bibliography cites 7 sources.
Page Count:
14 pages (~225 words per page)
File: TS14_TEtakeov.rtf
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Unformatted sample text from the term paper:
of mergers and acquisitions has been seen to increase dramatically over the last decade. This has not been as phenomena isolated only to the UK, but has been seen in
the rest of the Anglo-American economies, where the type of action had been accepted for a long time as well as the other economy structured, such as the Germanic model,
where this is seen as less socially acceptable. However, the predicted benefits of economies of scope and scale, as well as the ability to become a stringer organisations may not
always be the driving points behind a acquisitions. Hostile take-overs are also becoming more popular. In these instances it may be claimed
that the companies best interests would be served by remaining independent, yet the attempt at take over may still go ahead. When we consider the legal position of the company
there is little protection provided by UK law when compared to other countries. There are some measures that can be taken to try to protect the company, however, even
in considering the limited measures that are possible, such as the defence documents that can be issued, to try to prevent the sale of shares to the acquiring company, it
is shown that this has little effect (Cooke et al, 1998). In recent takeover bids, such as LloydsTSB bank and Abbey National, we can see that the company may
issues a document. In this there is an attempt to prevent the sale of shares. There will be a letter or a plea for the board of directors, and then
an outline of reasons why the sale should not be made. However, where a company is under performing, or the shareholders are
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