M&A Process and Defensive Strategies

Abstract

This chapter ventures into the M&A process and compliances to be done by the acquirer. Various processes which would be undergone by parties/companies entering into an M&A deal includes identifying target and formulation of strategies, evaluation and analysis, deal negotiation processes, due diligence, closure of deal, etc. The chapter also makes the reader understand the various options available to the corporate in order to curtail hostile takeovers. The employability of pre-offer and post-offer defensive mechanisms by the companies is covered in detail. Preventive defense strategies include differential voting rights (DVRs), ESOPs, poison pill, golden parachutes, etc. Post-offer defensive strategies include greenmail, crown jewel, Pac-Man defense, etc.