M & A Law Prof Blog

Editor: Brian JM Quinn
Boston College Law School

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Friday, May 30, 2014

Activist strategies in the merger context

MoFo has posted a brief overview of activist stategies in the context of the merger space.  It comes down to three basic strategies:

1.  Challenge an announced deal in an effort to force the board to regnegotiate for a marginally higher  price (e.g. Dell/Icahn).

2. Chase an appraisal remedy in an announced target (e.g. Dole/Merion Investment Management).

3. Try to put a company in play through an unsolicited offer ... and pray someone else comes along to top you (e.g. Icahn/Clorox).

This is obviously not an exhaustive list.  What were are witnessing in the Pershing Square/Valeant/Allergan bid is an interesting twist. 

-bjmq

http://lawprofessors.typepad.com/mergers/2014/05/activist-strategies-in-the-merger-context.html

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