Perversity That Spelt End of Good Old Takeover Wars
Evening Standard - London › November 21, 2006
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Summary
THE case used to be that when a company received a takeover bid the first and second - reaction of the incumbent management was to resist.
Takeover battles were genuinely that - the defenders pulling out all the stops to stay independent, the attackers being forced to make a compelling case as to why the company would do better under this new owner .See the full content of this document
Extract
Perversity That Spelt End of Good Old Takeover Wars
Those days have long gone. Fund managers who run institutional funds, and who therefore control the fate of most public companies, welcome takeover bids - even mean ones because they give a short- term boost to share prices.
This in turn makes the fund managers' investment performance look better a...See the full content of this document
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