Series 79: 11.4.4. Shareholder Approval

11.4.4. Shareholder Approval

Except for certain tender offers and asset purchases, the target’s shareholders must vote to approve an M&A transaction if the target is a public company. Additionally, the buyer’s shareholders must vote to approve the transaction if the buyer is a public company, the consideration at least partly consists of the buyer’s common stock, and the number of shares that will be paid will increase common shares outstanding by 20% or more. (Private companies typically have the