Securities Regulation: Hostile Corporate Takeovers: Synopses of Thirty-Two Attempts
GGD-88-48FS
Published: Mar 04, 1988. Publicly Released: Apr 13, 1988.
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Highlights
Pursuant to a congressional request, GAO provided information on 32 hostile corporate takeover attempts initiated in 1985, focusing on the: (1) terms, conditions, and stated purposes of the tender offers; (2) amount of target company stock held by bidders and target company management; (3) bidding companies' financing sources and terms; (4) bidding and target companies' financial advisers and their fees; (5) bidding and target companies' actions before and after the initial tender offers; and (6) outcomes of takeover attempts.
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