tai文档新wan财务管理_lecture22(ch22).pptVIP

Topics Covered The Market for Corporate Control Sensible Motives for Mergers Dubious Reasons for Mergers Evaluating Mergers Merger Tactics Leveraged Buy-Outs Mergers and the Economy The Merger Market Proxy battle for control of the board of directors Firm purchased by another firm Leveraged buyout by a group of investors Divestiture of all or part of the firm’s business units Recent Mergers The Merger Market Tools Used To Acquire Companies Sensible Reasons for Mergers Economies of Scale A larger firm may be able to reduce its per unit cost by using excess capacity or spreading fixed costs acr