Intro. to Corporate Restructuring

Guess what is the Corporation up to?

MERGER

ACQUISITION

JOINT VENTURE

TENDER OFFER

ASSET ACQUISITION

SPIN-OFF

SPLIT-OFF

SPLIT-UP

DIVESTITURE

EQUITY CARVE OUT

GREEN MAIL – T.O. DEFENSE

WHITE KNIGHT – T.O.DEFENSE

WHITE SQUIRE

These were some options…..

CORPORATE RESTRUCTURING

• These are activities related to expansion/contraction of a firm’s operations or activities related to changes in its assets or ownership structure.

• The most common forms of Corporate Restructuring are – mergers, amalgamation, acquisition, divestiture, demerger, etc.

Classification of Corp. Res. Options

1. EXPANSION

MERGERS

TENDER OFFER

JOINT VENTURE

2. SELL-OFFS

SPIN-OFFS

SPLIT –OFF

SPLIT-UP

DIVESTITURE

Classification of Corp. Res. Options

3.CORPORATE CONTROL

PREMIUM BUY BACK

STANDSTILL AGREEMENT

ANTI-TAKEOVER AMMENDMENT

PROXY CONTESTS

4. CHANGES IN OWNE SHIP STRUCTURE

EXCHANGE OFFERS

SHARE REPURCHASES

GOING PRIVATE

LEVERAGED BUY-OUT

DISINVESTMENT