Question 1

In the United States when a company makes a bid directly to a target company's shareholders, it must file what form?

Accepted Answer

A) Schedule 14G 
B) Schedule 13D 
C) Schedule TO 
D) It does not have to file any forms until after the deal is completed 
A) Schedule 14G 
B) Schedule 13D 
C) Schedule TO 
D) It does not have to file any forms until after the deal is completed C

Question 2

The European Union has finally adopted one consistent set of takeover rules which all members must abide by.

Accepted Answer

A) True 
 B)False  False

Question 3

LBOs became increasingly popular during the fourth merger wave.

Accepted Answer

A) True 
 B)False  True

Question 4

Pursuant to the Sarbanes-Oxley Act the penalties for insider trading are up to $5 million and a possible jail sentence of up to 20 years.

Accepted Answer

A) True 
 B)False

Question 5

In the United States target shareholders must have at least what time period to consider the original bids in cases when there is a competing tender offer?

Accepted Answer

A) 10 days 
B) 5 days 
C) 2 days 
D) One month 
A) 10 days 
B) 5 days 
C) 2 days 
D) One month

Question 6

In the United States which entities enforce antitrust laws?

Accepted Answer

A) Justice Department 
B) Federal Trade Commission 
C) Treasury Department 
D) Both a and b 
E) Both b and c
F)None of the above 
A) Justice Department 
B) Federal Trade Commission 
C) Treasury Department 
D) Both a and b 
E) Both b and c
F)None of the above

Question 7

Aktas, DeBodt, and Roll found that the greater the adverse impact on European rivals resulting from deals by foreign companies, the more likely that regulators would move to oppose the deal.

Accepted Answer

A) True 
 B)False

Question 8

In India, bidders who acquire what percent of a target's stock must disclose that holding within two days of attaining it?

Accepted Answer

A) 5% 
B) 2% 
C) 10% 
D) 51% 
E) Such disclosure is not required in India 
A) 5% 
B) 2% 
C) 10% 
D) 51% 
E) Such disclosure is not required in India

Question 9

Bidders doing a mini-tender offer must file a Schedule TO within 20 business days from when the offer is announced.

Accepted Answer

A) True 
 B)False

Question 10

In the United States under what rule or doctrine may targets take antitakeover actions that are reasonable and proportional to perceived threats to shareholder interests?

Accepted Answer

A) Revlon Duties 
B) Unocal Standard 
C) Microsoft Rule 
D) Business Combination Standard 
A) Revlon Duties 
B) Unocal Standard 
C) Microsoft Rule 
D) Business Combination Standard

Question 11

The Securities Law of China requires holders of 5% or more of a target's stock to disclose this holding within three days of attaining that position.

Accepted Answer

A) True 
 B)False

Question 12

What transaction changed the way that Germany approached takeovers of German companies by non-German bidders:

Accepted Answer

A) Porsche v.Volkswagen 
B) Vodafone v.Mannesmann 
C) UBS v.Deutsche Bank 
D) None of the above 
A) Porsche v.Volkswagen 
B) Vodafone v.Mannesmann 
C) UBS v.Deutsche Bank 
D) None of the above

Question 13

The Celler Kefauver Act required bidders and targets to file with the Justice Department and Federal Trade Commission in advance of completing a merger or acquisition.

Accepted Answer

A) True 
 B)False

Question 14

In Japan tender offers must be kept open for at least 20 calendar days but not more than 60.

Accepted Answer

A) True 
 B)False

Question 15

In the United Kingdom bidders who acquire 30% or more of a target's stock must bid for the entire company.

Accepted Answer

A) True 
 B)False

Question 16

The eight-factor test comes from what notable case?

Accepted Answer

A) Edgar v.Mite 
B) CTS v.Dynamics 
C) Wellman v.Dickinson 
D) United States v.Microsoft 
A) Edgar v.Mite 
B) CTS v.Dynamics 
C) Wellman v.Dickinson 
D) United States v.Microsoft

Question 17

In the United States when a bidder initiates an acquisition, it must file a Schedule 8K if:

Accepted Answer

A) The deal is hostile 
B) Target's size represents more than 10% of bidder's assets 
C) If requested by the FTC 
D) None of the above 
A) The deal is hostile 
B) Target's size represents more than 10% of bidder's assets 
C) If requested by the FTC 
D) None of the above

Question 18

In the United States after shareholders tender their shares, they:

Accepted Answer

A) Cannot withdraw them 
B) Can withdraw them at any time 
C) Can withdraw them at the end of the year 
D) Must sell them to a third party True or False 
A) Cannot withdraw them 
B) Can withdraw them at any time 
C) Can withdraw them at the end of the year 
D) Must sell them to a third party True or False

Question 19

If less than the requested number of shares are tendered, the Williams Act requires that the bidder must purchase the amount that were tendered anyway.

Accepted Answer

A) True 
 B)False

Question 20

Research by Lisa Muelbroek empirically confirmed that stock price run-ups before takeover announcements often occur.This reflects:

Accepted Answer

A) Toe Holds 
B) Insider Trading 
C) Anticompetitive behavior 
D) None of the above 
A) Toe Holds 
B) Insider Trading 
C) Anticompetitive behavior 
D) None of the above

In the United States when a company makes a bid directly to a target company's shareholders, it must file what form?

The European Union has finally adopted one consistent set of takeover rules which all members must abide by.

LBOs became increasingly popular during the fourth merger wave.

Pursuant to the Sarbanes-Oxley Act the penalties for insider trading are up to $5 million and a possible jail sentence of up to 20 years.

In the United States target shareholders must have at least what time period to consider the original bids in cases when there is a competing tender offer?

In the United States which entities enforce antitrust laws?

Aktas, DeBodt, and Roll found that the greater the adverse impact on European rivals resulting from deals by foreign companies, the more likely that regulators would move to oppose the deal.

In India, bidders who acquire what percent of a target's stock must disclose that holding within two days of attaining it?

Bidders doing a mini-tender offer must file a Schedule TO within 20 business days from when the offer is announced.

In the United States under what rule or doctrine may targets take antitakeover actions that are reasonable and proportional to perceived threats to shareholder interests?

The Securities Law of China requires holders of 5% or more of a target's stock to disclose this holding within three days of attaining that position.

What transaction changed the way that Germany approached takeovers of German companies by non-German bidders:

The Celler Kefauver Act required bidders and targets to file with the Justice Department and Federal Trade Commission in advance of completing a merger or acquisition.

In Japan tender offers must be kept open for at least 20 calendar days but not more than 60.

In the United Kingdom bidders who acquire 30% or more of a target's stock must bid for the entire company.

The eight-factor test comes from what notable case?

In the United States when a bidder initiates an acquisition, it must file a Schedule 8K if:

In the United States after shareholders tender their shares, they:

If less than the requested number of shares are tendered, the Williams Act requires that the bidder must purchase the amount that were tendered anyway.

Research by Lisa Muelbroek empirically confirmed that stock price run-ups before takeover announcements often occur.This reflects:

Introduction

History of Mergers

Merger Strategy

Antitakeover Measures

Takeover Tactics

Hedge Funds As Activist Investors

Going-Private Transactions and Leveraged Buyouts

The Private Equity Market

The Junk Bond and the Leveraged Loan Market and Stapled Financing

Corporate Restructuring

Restructuring in Bankruptcy

Corporate Governance

Joint Ventures and Strategic Alliances

Valuation

Tax Issues in Mergers & Acquisitions

Filters

Exam 3: Legal Framework

In the United States when a company makes a bid directly to a target company's shareholders, it must file what form?

The European Union has finally adopted one consistent set of takeover rules which all members must abide by.

LBOs became increasingly popular during the fourth merger wave.

Pursuant to the Sarbanes-Oxley Act the penalties for insider trading are up to $5 million and a possible jail sentence of up to 20 years.

In the United States target shareholders must have at least what time period to consider the original bids in cases when there is a competing tender offer?

In the United States which entities enforce antitrust laws?

Aktas, DeBodt, and Roll found that the greater the adverse impact on European rivals resulting from deals by foreign companies, the more likely that regulators would move to oppose the deal.

In India, bidders who acquire what percent of a target's stock must disclose that holding within two days of attaining it?

Bidders doing a mini-tender offer must file a Schedule TO within 20 business days from when the offer is announced.

In the United States under what rule or doctrine may targets take antitakeover actions that are reasonable and proportional to perceived threats to shareholder interests?

The Securities Law of China requires holders of 5% or more of a target's stock to disclose this holding within three days of attaining that position.

What transaction changed the way that Germany approached takeovers of German companies by non-German bidders:

The Celler Kefauver Act required bidders and targets to file with the Justice Department and Federal Trade Commission in advance of completing a merger or acquisition.

In Japan tender offers must be kept open for at least 20 calendar days but not more than 60.

In the United Kingdom bidders who acquire 30% or more of a target's stock must bid for the entire company.

The eight-factor test comes from what notable case?

In the United States when a bidder initiates an acquisition, it must file a Schedule 8K if:

In the United States after shareholders tender their shares, they:

If less than the requested number of shares are tendered, the Williams Act requires that the bidder must purchase the amount that were tendered anyway.

Research by Lisa Muelbroek empirically confirmed that stock price run-ups before takeover announcements often occur.This reflects:

Introduction

History of Mergers

Merger Strategy

Antitakeover Measures

Takeover Tactics

Hedge Funds As Activist Investors

Going-Private Transactions and Leveraged Buyouts

The Private Equity Market

The Junk Bond and the Leveraged Loan Market and Stapled Financing

Corporate Restructuring

Restructuring in Bankruptcy

Corporate Governance

Joint Ventures and Strategic Alliances

Valuation

Tax Issues in Mergers & Acquisitions

Filters