Category: Activist Hedge Fund

‘Hostile’ M&A Public Escalation Analytical Framework–
I have participated in as well as examined over three dozen M&A’s over the years. What I find is an absence of a common analytical framework applicable across historical experiences of the United Kingdom, the United States, and Japan. Much has to do with differences in takeover regulation I suspect. Still, distilling my experience, I have attempted to create a general approach applicable to the public escalation phase. I present this below.

Acquiror stock price likely to receive some downward pressure as arbitrageurs move in

After examining two dozen activist and hostile bids I have devised a cheat sheet which sums up typical approaches. Most real world interactions seems to be variants of this. Sometimes a picture is worth a thousand words!