Series 79: Two-step Merger

Taken from our FINRA Investment Banking Exam

Definition of the term Two-step Merger...

a merger method in which the buyer first conducts a tender offer. If the buyer acquires at least 90% of shares in this way, the buyer may then complete the merger without the approval of other shareholders. Otherwise, the second step requires a shareholder vote, much like other mergers. Also called a two-step tender process.

Since you're reading about Series 79: Two-step Merger, you might also be interested in:

Solomon Exam Prep Study Materials for the Series 79
Please Enable Javascript
to view this content!