Business Law Prof Blog: Target Board Behavior in Buyouts

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August 24, 2007

Target Board Behavior in Buyouts

The recent market troubles should remind us (and the courts) that occasionally speed and not a time consuming market canvas are good for investors of targets in buyouts. The board of Alltel moved swiftly to accept a 27.5 billion buyout offer from TPG Capital (and Goldman) and took heat from many would wanted the board to take longer to auction the company. It now appears that delay would have been very costly and may have scuttled any deal. Alltel investors will be very happy to close the one they have.

August 24, 2007 in Mergers & Acquisitions | Permalink

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