Merger Arbitrage : a Fundamental Approach to Event-Driven Investing.

A wave of corporate mergers, acquisitions, restructuring, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. At the same time, the nature of the merger wave has lent such transactions a much higher degree of predictability tha...

Πλήρης περιγραφή

Λεπτομέρειες βιβλιογραφικής εγγραφής
Κύριος συγγραφέας: Melka, Lionel
Άλλοι συγγραφείς: Shabi, Amit
Μορφή: Ηλ. βιβλίο
Γλώσσα:English
Έκδοση: New York : Wiley, 2012.
Σειρά:Wiley finance series.
Θέματα:
Διαθέσιμο Online:Full Text via HEAL-Link
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082 0 4 |a 658.162 
049 |a MAIN 
100 1 |a Melka, Lionel. 
245 1 0 |a Merger Arbitrage :  |b a Fundamental Approach to Event-Driven Investing. 
264 1 |a New York :  |b Wiley,  |c 2012. 
300 |a 1 online resource (312 pages). 
336 |a text  |b txt  |2 rdacontent 
337 |a computer  |b c  |2 rdamedia 
338 |a online resource  |b cr  |2 rdacarrier 
490 1 |a The Wiley Finance Series 
505 0 |a Merger Arbitrage; Contents; Foreword; Acknowledgements; About the Authors; Introduction; PART I THE ARBITRAGE PROCESS; 1 The Role of the Market in Mergers and Acquisitions; 1.1 Structural Changes to the Financial Markets; 1.2 Changes to M & A Practice; 1.3 Market Evaluation of M & A; 1.3.1 The price offered to shareholders of the target company; 1.3.2 Structure -- the key to evaluating an offer; 1.4 Types of Synergies and Waves of M & A; 1.4.1 Justification for transactions; 1.4.1.1 Better efficiency; 1.4.1.2 Obtaining market power; 1.4.1.3 Acquiring specific resources. 
505 8 |a 1.4.1.4 Benefiting from the intellectual property of the target company1.4.1.5 Hindering the progress of a troublesome competitor; 1.4.1.6 Blocking new entrants to a sector; 1.4.2 Waves of M & A; Case Study: The Alcan/Pechiney Deal; 2 The Different Types of Transactions; 2.1 Types of Transactions; 2.1.1 Cash transactions; 2.1.2 All-share transactions; 2.1.3 Mixed cash-and-share transactions; 2.1.4 Collars; 2.2 The Choice of Payment Method; 3 Risk and Return Factors; 3.1 The Different Outcomes; 3.1.1 The transaction is completed; 3.1.1.1 The probability of success; 3.1.1.2 Risks of failure. 
505 8 |a 3.1.2 The transaction fails3.1.2.1 Estimating failure; 3.1.2.2 Estimating potential losses; 3.1.3 The transaction is completed at a price lower than the initial offer; 3.1.4 Rival bids and bidding wars; 3.2 M & A Timetable; 3.2.1 Timetable considerations according to offer type; 3.2.1.1 Takeovers; 3.2.1.2 The unique case of tender offers; 3.2.1.3 Mergers; 3.2.2 Sector differences; 4 The Merger Arbitrage Strategy; 4.1 The Long-Term Profitability of the Strategy; 4.2 The Factors that Influence Returns; 4.3 The Different Approaches to the Strategy Developed by Specialist Managers. 
505 8 |a 4.3.1 The deal's risk zone4.3.2 The use of leverage; 4.3.3 The use of options or bonds; 4.3.4 Investment portfolio analysis; 4.3.5 Portfolio concentration; 4.3.6 The role of trading; 4.3.7 Classifications; 4.4 The Conclusions of Academic Studies; 4.4.1 Studies on the returns generated by merger arbitrage strategies; 4.4.2 The role of arbitrageurs in the execution of M & A transactions; 4.4.3 Other characteristics of merger arbitrage strategies; PART II ANALYZING THE RISK OF FAILURE; 5 Financing Risk; 5.1 The Different Financing Methods; 5.1.1 Revolving credit; 5.1.2 Bridge loan; 5.1.3 Term loan. 
505 8 |a 5.1.4 Syndicated loan5.1.5 Mezzanine loans; 5.1.6 The bond market; 5.1.7 Contingent value rights (CVRs); 5.2 The Legal Security of the Financing; 5.2.1 The UK legal framework; 5.2.2 The US legal framework; 5.2.3 The European legal framework in general; Case Study: The Dow Chemical/Rohm & Haas Deal; 6 Competition Risk; 6.1 Origins and Regulatory Framework of Competition Law; 6.1.1 United States; 6.1.2 Europe; 6.2 Competent Authorities and Approval Process; 6.2.1 United States; 6.2.2 Europe; 6.2.3 China; 6.3 Competition Remedies; 6.4 Country Differences in Evaluation. 
500 |a 6.5 The Allocation of Competition Risk between the Parties. 
520 |a A wave of corporate mergers, acquisitions, restructuring, and similar transactions has created unprecedented opportunities for those versed in contemporary risk arbitrage techniques. At the same time, the nature of the merger wave has lent such transactions a much higher degree of predictability than ever before, making risk arbitrage more attractive to investors. Surprisingly, there is little transparency and instruction for investors interested in learning the latest risk arbitrage techniques. Merger Arbitrage - A Fundamental Approach to Event-Driven Investing helps readers underst. 
588 0 |a Print version record. 
650 0 |a Arbitrage. 
650 0 |a Consolidation and merger of corporations. 
650 0 |a Stock exchanges and current events. 
650 4 |a Business. 
650 7 |a Arbitrage.  |2 fast  |0 (OCoLC)fst00812760 
650 7 |a Consolidation and merger of corporations.  |2 fast  |0 (OCoLC)fst00875660 
650 7 |a Stock exchanges and current events.  |2 fast  |0 (OCoLC)fst01133593 
655 4 |a Electronic books. 
700 1 |a Shabi, Amit. 
776 0 8 |i Print version:  |a Melka, Lionel.  |t Merger Arbitrage : A Fundamental Approach to Event-Driven Investing.  |d New York : Wiley, ©2012  |z 9781118440018 
830 0 |a Wiley finance series. 
856 4 0 |u https://doi.org/10.1002/9781118818497  |z Full Text via HEAL-Link 
994 |a 92  |b DG1