Acquisition currency is the possibility, enjoyed mainly by listed companies, of paying for acquisitions with paper (i.e. with convertion shares) instead of financial means, decreasing the partecipation share of the controlling shareholder as little as possible. The paper seeks to address the issues. The paper describes an original model to deal with the conceptual framework of the problem. The acquisition currency is interesting and it is worth playing it. It is clear that a certain point the mechanism breaks and it is useful to see what happens. A mechanism that continues to increase the P/E does not exits.
The alchemy of acquisition currency - Exclusive advantages of listed companies / Tagliavini, Giulio. - In: MANAGERIAL FINANCE. - ISSN 0307-4358. - 34:(2008), pp. 271-281.
The alchemy of acquisition currency - Exclusive advantages of listed companies
TAGLIAVINI, Giulio
2008-01-01
Abstract
Acquisition currency is the possibility, enjoyed mainly by listed companies, of paying for acquisitions with paper (i.e. with convertion shares) instead of financial means, decreasing the partecipation share of the controlling shareholder as little as possible. The paper seeks to address the issues. The paper describes an original model to deal with the conceptual framework of the problem. The acquisition currency is interesting and it is worth playing it. It is clear that a certain point the mechanism breaks and it is useful to see what happens. A mechanism that continues to increase the P/E does not exits.File | Dimensione | Formato | |
---|---|---|---|
Alchemy of acquisition currency.pdf
non disponibili
Tipologia:
Documento in Post-print
Licenza:
Creative commons
Dimensione
896.23 kB
Formato
Adobe PDF
|
896.23 kB | Adobe PDF | Visualizza/Apri Richiedi una copia |
I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.