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Reference:
Borovkov, M.S.
Complex of preventive measures
for protection of business
against hostile takeover.
// National Security.
2014. № 1.
P. 162-170.
URL: https://en.nbpublish.com/library_read_article.php?id=63904
Borovkov, M.S. Complex of preventive measures
for protection of business
against hostile takeover.
Abstract:
The object of studies in this article is
one of the divisions of the theory of takeovers
and mergers in business, namely, hostile
takeover, and the article is written after taking
the course “Security of entrepreneurial activity”.
Methodologically, the author provides an
overview of the scientific publications on foreign
and Russian practice. He provides theoretical
analysis of the main elements, models and
possible strategies for the protection against
hostile takeovers. The author pays special
attention to the Russian situation, involving
the Russian legislation and practical examples.
For the first time the author used Redel Group
factual data for the analysis. Most of the
strategies should be applied together for a
maximum results. The pills, the parachutes and
supermajority should be displayed publicly in
order to lower the possibility of future takeover
and raising the price of shares. The protection
of assets, strategic alliance and strategic
acquisition should be used only in emergency
situations. The author concludes that the situation in the Russian market of mergers and
acquisitions is not as tragic, as it seems. In spite
of the domination of the administrative resource,
lack of development of the financial market, lack
of friendly takeovers, and corruption, one may
protect his own business, if he takes care of it
in advance.
Keywords:
mergers, conglomerate, hostile takeovers, share, asset, resource, two-level offer, the Russian Federation, white knight, poison pills.
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References
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