Dealing with Employee Benefit Plans
Article Abstract:
Guidelines for the evaluation of employee benefit plans during corporate takeover and acquisition transactions are presented. A review of pertinent court decisions and regulations is included. Employee benefit plans are being used in takeover defense strategies. These plans generally hold a large portion of their firm's stock. Problems in both pass-through actions and employee buy-outs are summarized. Employee benefit plans are also an integral part of friendly mergers. Federal statutes exist that can affect negotiations. Tax and liability factors must both be considered. Plans may be frozen or terminated.
Publication Name: Mergers & Acquisitions
Subject: Law
ISSN: 0026-0010
Year: 1984
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Golden Parachutes and the Law
Article Abstract:
Excessive employment contracts, known as golden parachutes, have come under sharp criticism. In some cases litigation has been instituted. An appropriate standard for evaluating employment contracts must be put into effect. Business judgement must not involve harming the corporate enterprise by granting excessive conditions. Change-in-control contracts should be approved long before any takeover is contemplated. Several steps are outlined to help secure successful change-in-control arrangements.
Publication Name: Directors & Boards
Subject: Law
ISSN: 0364-9156
Year: 1984
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State Takeover Legislation after MITE: Standing Pat, Blue Sky, or Corporation Law Concepts?
Article Abstract:
The future role of the states in the regulation of takeovers bids is analyzed. The balance between federal and state law in this area is examined. The Supreme Court ruled the takeover statute in Illinois to be illegal. Takeover statutes in many other states were also invalidated.
Publication Name: Corporation Law Review
Subject: Law
ISSN: 0149-8827
Year: 1984
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