mergers and acquisitions guidelines & cases by 133 prathmesh thale 135 sumeet hooja 136 jossy...
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Mergers and AcquisitionsGuidelines & Cases
By
133 Prathmesh Thale
135 Sumeet Hooja
136 Jossy Thomas
137 Jamshid Roointon
139 Jomy Joseph
140 Rupali Badadare
Introduction
Mergers Types 1. Horizontal 2. Vertical 3. Conglomerate
Reasons Supporting mergers 1. Economies of Scale 2. Strategic Benefits 3. Complementary Resources 4. Utilisation of Surplus Funds
Acquisitions
Types
1. Shares
2. Assets
Difference between Mergers and Acquisitions
Joint Ventures
Regulatory approvals
Acquisition of sharesAcquisition of assetsMergers and Amalgamation
SEBI Guidelines for Acquisition
NotificationTrigger point for public offerOffer PriceContents of the public announcement
Companies Act Provisions
Sec 391 to 396
391 – Arrangements with creditors & members392 – Enforce compromises & arrangements393 – Information about compromises &
arrangements394 – Facilitation of reconstruction & amalgamation395 – Acquisition of shares of shareholders396 – Amalgamation in National Interest
Provisions under Sec 394
Transfer of Transferor Company
Allotment of shares, debentures & policies
Legal Proceedings
Dissolution
Disagreeing Members
Other
Reliance Industries Ltd. (RIL) & Reliance
Petrochemical Ltd.(RPL)About The Reliance GroupThe MergerA Huge amalgamTurnoverCreation of an integrated Oil & Petro Major
BenefitsNaptha SourceSales taxDepreciation
Idea – Escotel
About.. Idea ( Birla, TATA, AT&T) Escotel ( Escorts & First Pacific)
The Acquisition Largest acquisition in Wireless Industry Increase in total Debt of Idea
Benefits of Merger
Additional Circles Setback to Bharti – High Operational
cost Increased Customer Base Reduction in licence fees
AOL – Time WarnerAbout..AOL & Time Warner
Towards the MergerAOL & Time Warner – The ReasonsAOL & Time Warner – Basic Strengths
The MergerRole of Federal Trade Commission (FTC)Role of Federal Competition Commission (FCC)Competitors protestsM – Cap & Subscribers
Concerns addressed by the Commissions
Open AccessPreventing Interference of ‘AOL’DSL Marketing Requirements
AOL Time Warner – In Brief
After The Merger
Future for the Industry in America
Conclusion
References
Financial Management --Prasanna Chandrawww.indiainfoline.com
www.cfm-india.comwww.sebi.gov.com
www.hindubusinessline.comwww.rigzone.com
www.ril.comwww.economictimes.com
www.companiesact1956.comwww.bakernet.com
www.envestindia.comwww.cnet.news.com