Chapter 9: Corporate Combinations, Restructuring, and Other Actions

In this section

• Mergers, Acquisitions, and Takeovers
  Mergers, Acquisitions, and Takeovers (CFA Level 1): Types of Deals: Mergers, Acquisitions, and Takeovers, Strategic Rationale, and Synergy Assessment. Key definitions, formulas, and exam tips.
• Corporate Restructuring (Spin-Offs, Divestitures)
  Corporate Restructuring (Spin-Offs, Divestitures) (CFA Level 1): Understanding Corporate Restructuring, Defining “Restructuring” in a Corporate Sense, and Value Drivers in Corporate Restructuring. Key definitions, formulas, and exam tips.
• Leveraged Buyouts and Management Buyouts
  Leveraged Buyouts and Management Buyouts (CFA Level 1): Key Motivations and Structure of an LBO, Financing Structures in an LBO, and Management Buyouts (MBOs). Key definitions, formulas, and exam tips.
• Insolvency and Reorganization Processes
  Insolvency and Reorganization Processes (CFA Level 1): Legal Framework and Bankruptcy Filings, Automatic Stay, and Debtor in Possession (DIP) Financing. Key definitions, formulas, and exam tips.
• Reverse Mergers and SPACs (Special Purpose Acquisition Companies)
  Reverse Mergers and SPACs (Special Purpose Acquisition Companies) (CFA Level 1): Understanding Reverse Mergers, Key Steps in a Reverse Merger, and Potential Advantages of a Reverse Merger. Key definitions, formulas, and exam tips.
• Anti-Takeover Provisions and Defenses
  Anti-Takeover Provisions and Defenses (CFA Level 1): Rationale Behind Anti-Takeover Defenses, Common Anti-Takeover Strategies, and Poison Pill (Shareholder Rights Plan). Key definitions, formulas, and exam tips.
• Synergies and Cross-Border Mergers
  Synergies and Cross-Border Mergers (CFA Level 1): Test Your Knowledge: Synergies and Cross-Border Mergers and Which of the following best describes "cost synergy". Key definitions, formulas, and exam tips.
• Post-Merger Integration
  Post-Merger Integration (CFA Level 1): Key Components of an Effective PMI, Organizational Structure Alignment, and IT Systems and Data Integration. Key definitions, formulas, and exam tips.
• Regulatory Approvals and Cross-Border Complexity in M&A
  Regulatory Approvals and Cross-Border Complexity in M&A (CFA Level 1): Key Regulators and Their Roles, M&A Approval Process, and Cross-Border Complexity. Key definitions, formulas, and exam tips.
• Earnouts and Contingent Payments in M&A
  Earnouts and Contingent Payments in M&A (CFA Level 1): Rationale for Earnouts and Contingent Payments, Common Structures and Key Terms, and Defining Performance Goals. Key definitions, formulas, and exam tips.
• Hostile Takeovers
  Hostile Takeovers (CFA Level 1): Key Characteristics of a Hostile Takeover, Why Hostile Takeovers Happen, and Hostile Takeover Tactics. Key definitions, formulas, and exam tips.