- Takeover activity and the long-run performance of
reverse leveraged buyouts.
A reverse leveraged buyout occurs when either a publicly traded firm or a division within one converts to private ownership via a leveraged buyout (LBO) and subsequently goes public. This paper examines the three-year investment performance of these firms after going public,(1) and further explores the high incidence of takeover ......
- A Prescription for Deals: Consolidation in the Pharmaceuticals Sector
Consolidation is taking place in the pharmaceutical and biotechnology sector. According to VentureOne, a research firm that tracks the venture capital industry, acquisitions of private biopharmaceutical companies in the first quarter of 2005 reached a total value of $2 billion, more than the $1.2 billion for all such deals in ......
- Considering an IPO?
Are you a private company thinking of launching an initial public offering, or IPO? You're likely to have a considerable amount of company. After the number of filings dipped from an all-time high in 1999 of 486 to a low of 68 in 2003, filings for IPOs are once ......
- One of Valley's largest private companies files
IPO.
American Reprographics Co., one of the largest privately held companies in the greater San Fernando Valley, has filed an initial public offering as the market for IPOs shows marked improvement. The Glendale-based company hopes to raise $230 million in the IPO, which American Reprographics plans to use for debt repayment ......
- Institutional shareholders' split personality on corporate governance: Active in proxies, passive in IPOs
IMAGE PHOTOGRAPH 2 For well over a decade, institutional shareholders have been battling management over matters of corporate governance. As part of this effort, they have sponsored and supported shareholder proposals to redeem poison pills, to submit poison pills to shareholder votes, and to declassify the boards of companies with ......
- Reverse mergers: An alternative to the IPO?
It's a hard time to be a small company. One-fifth of the startups that received venture capital funding in 1999 and 2000 have already gone bust. The Deal.com reports, "Of companies first funded in 1999, only 2.9 percent had IPOs and only about 15 percent were acquired or merged." With ......
- Investors, IPOs, and Shark Repellent
After almost grinding to halt in recent years, IPO activity is once again on the rise. A growing IPO market should be a good deal for private equity investors, who often use initial public offerings as an exit strategy for their investments. Sometimes, however, a company's defensive provisions may make ......