Management and Organizational Studies 1023A/B Lecture Notes - Lecture 8: Tender Offer, Takeover Target, Foreign Exchange Risk

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1023A/B
• Professor: Maria Ferraro

Document Summary

Value creation: tax benefits make better use of tax deductions and credits, strategic realignments permits new strategies that were not feasible prior to acquisition of new managerial skills, connections, products, services. Exempt takeovers: private companies are exempt from provincial securities legislation, public companies that have few shareholders in one province may be subject to law where majority of shareholders reside, purchase of shares from fewer than 5 shareholders. Securities act for one of the following reasons: where there is limited involvement by shareholders in ontario, security legislature in another province will apply. Integration of financial system economies began deregulating their foreign exchange markets, capital markets, and banking systems. Napoleonic law (france, germany, italy), chinese law, and evolving asian legal systems: legal and tax differences can affect financial decisions on what assets to acquire, how to organize the firm, and what capital structure to use. Goals of international financial management: usa, uk, canada, australia, etc.