Company acquisitions and mergers, even outside the financial markets, ultimately also affect the financial markets because of the large payments involved, which usually affect foreign currency areas. Therefore, central banks monitor such activities, and regulators set rules, often according to relevant laws, such as the Securities Acquisition and Takeover Act [WpÜG] in Germany). – See defensive measure, accretion, acquisition, strategic, alliances, cross-border, asset deal, cash offer, blitzkrieg takeover bid, blind-deaf link, buyout capital, collateralized loan obligations, decapitalization, Derby, earn-out clause, Europa-AG, Façon, fairness opinion, corporate fund, suitor, merger announcement, foot-fishing game, poison pill, greenmail, size effects, insolvency costs, capital, earmarked, purchase price (partial) deferral, consolidation, concentration price, group discount, war chest, feasibility study, macaroni defense, market shakeout, banking, material adverse change clause, coinsurance effect, persons, acting in concert, radar surveillance, raider, risk, personnel, knight, white, shark watcher, special dividend, sovereign wealth fund, tax due diligence, deadwood, transaction bonus, takeover, hostile, takeover offer, takeover appeal, takeover advisory board, takeover risks, surprise attack, merger. – Cf. ECB Monthly Bulletin, December 2003, p. 17 f., BaFin Annual Report 2004, p. 202 (important rules), BaFin Annual Report 2006, p. 184 f. (defensive measures), BaFin Annual Report 2007, p. 189 ff. (transactions since 2003; legal issues; conspicuous bidding wars), BaFin Annual Report 2008, p. 177 ff. (transparency requirements; Schaeffler-Continental AG case; cross-border proceedings; prohibitions; individual exemption proceedings), BaFin Annual Report 2009, p. 201 ff. (decline in takeover bids; breakdown; fine proceedings), BaFin Annual Report 2010, p. 223 (on the term “hostile takeover”; admissibility of defensive measures), and the respective BaFin Annual Report, chapter “Supervision of Securities Trading and Investment Business,” ECB Monthly Report of December 2006, pp. 44 et seq. (there also overview of mergers), ECB Monthly Report of August 2007, p. 37 ff. (also on the correlation between F&Ue on the one hand and share prices on the other), ECB Monthly Report of October 2008, p. 75 ff. (cross-border bank mergers; detailed presentation; many overviews).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
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