Hostile Takeovers: Hearings Before the Committee on Banking, Housing, and Urban Affairs, United States Senate, One Hundredth Congress, First Session, on the Examination of the Need for Reform of the Procedures and Practices of Insider Trading, Financing of Hostile Takeovers, and Their Effects on the Economy and International Competitiveness, January 28, March 4, and April 8, 1987, Volume 4 |
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Common terms and phrases
abuses acquired American arbitrageurs assets banking believe benefit bidder Board of Directors Boesky bond financing capital cash Chairman committee communities company's competitive concern Congress corporate raiders corporate takeovers D'Amato debt defensive disclosure DONAHUE Eastern Air Lines economic effect employees equity Federal financing firms Frank Lorenzo Garfinckel's going golden parachutes Goodyear greenmail hostile takeovers Icahn industry insider trading institutions interest investment bankers investors issue junk bonds legislation leveraged buyout long-term mergers and acquisitions million operations pension funds percent period plant play poison pill premium problem productive profit proposed purchase question raid regulation response restructuring result Rohatyn Safeway securities sell Senator HEINZ Senator RIEGLE shareholders shares short-term speculation stock price stockholders takeover activity takeover attempt target company tender offer term testimony Texas Air Thank tion transactions two-tier union Unocal vote Wall Street Williams Act workers
Popular passages
Page 474 - Corporations are creatures of state law, and investors commit their funds to corporate directors on the understanding that, except where federal law expressly requires certain responsibilities of directors with respect to stockholders, state law will govern the internal affairs of the corporation.
Page 569 - The views expressed in this article do not necessarily represent those of the SEC or any of its members or employees.
Page 230 - Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a byproduct of the activities of a casino, the job is likely to be ill-done.
Page 273 - Act to improve the program of medical assistance to areas with health manpower shortages, and for other purposes. 1 Be it enacted by the Senate and House of Representa2 lives of the United States of America in Congress assembled, 3 SECTION 1. This Act may be cited as the "Emergency 4 Health Personnel Act Amendments of 1972".
Page 571 - Bebchuk, The Case for Facilitating Competing Tender Offers: A Reply and Extension, 35 Stan. L. Rev. 23 (1982) (opposing defense but not auctions) and Gilson, Seeking Competitive Bids Versus Pure Passivity in Tender Offer Defense, 35 Stan.
Page 3 - Physiocratic suspicion, perhaps unbecoming in an academic, that we are throwing more and more of our resources, including the cream of our youth, into financial activities remote from the production of goods and services, into activities that generate high private rewards disproportionate to their social productivity.
Page 92 - Mr. Chairman, members of the committee, first of all, I would like to thank...
Page 610 - CC are regarded, on balance, as predominantly speculative with respect to capacity to pay interest and repay principal in accordance with the terms of the obligation. BB indicates the lowest degree of speculation and CC the highest degree of speculation.
Page 438 - They improve efficiency, transfer scarce resources to higher valued uses, and stimulate effective corporate management . They also help recapitalize firms so that their financial structures are more in line with prevailing market conditions.
Page 574 - Fischel. Use of Modern Finance Theory in' Securities Fraud Cases Involving Actively Traded Securities, 38 Bus.