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Möglichkeiten der Abwehr feindlicher Übernahmeangebote in Deutschland. Präventive und Ad-Hoc Maßnahmen

Möglichkeiten der Abwehr feindlicher Übernahmeangebote in Deutschland. Präventive und Ad-Hoc Maßnahmen

          
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About the Book

Studienarbeit aus dem Jahr 2018 im Fachbereich BWL - Bank, Börse, Versicherung, Note: 1,7, FOM Hochschule für Oekonomie & Management gemeinnützige GmbH, Frankfurt früher Fachhochschule, Sprache: Deutsch, Abstract: In Deutschland hat das Mysterium einer feindlichen Übernahme erst in den vergangenen 15 Jahren an Präsenz gewonnen. Bereits einige feindliche Übernahmen sowie unzählige feindliche Übernahmeversuche wurden während dieser Zeit gestartet. Im Mittelpunkt einer solchen Übernahme steht, dass das Managementboard des Bieters den Anteilseignern der Zielgesellschaft unmittelbar, das heißt, ohne die einstmalige Zustimmung des Managements der Zielgesellschaft, ein Angebot macht. Besonders anfällig für feindliche Übernahmeversuche sind Gesellschaften, die für den feindlichen Bieter versprechendes Potenzial aufzeigen, welches von den Zielunternehmen nicht ausgenutzt wird. Das versprechende Potenzial kann in Form einer Unterbewertung der Zielgesellschaft am Markt, das verfügen über größere Mengen an Aktien oder die attraktive Liquidität der Zielgesellschaft sein. Allerdings wird das Management der Zielgesellschaft erst versuchen, den Übernahmeversuch abzuwehren. Hier stehen verschieden Abwehrtechniken zur Verfügung. Diese werden weitestgehend durch das Wertpapiererwerbs- und Übernahmegesetz geregelt. Auch stellt sich die Frage, ob die Einleitung von Abwehrmaßnahmen im Interesse der Anteilseigner ist, oder ob das Management der Zielgesellschaft dabei im eigenen Interesse handelt. In Anbetracht dieser Problematik nimmt sich die folgende Arbeit der Thematik an und erläutert zunächst den Begriff feindliche Übernahme. Im Zuge dessen werden die möglichen Formen einer feindlichen Übernahme aufgezeigt. Im weiteren Verlauf der Arbeit werden Motive diskutiert und der rechtliche Rahmen einer feindlichen Übernahme erläutert. Aufgrund der Komplexität der verschiedenen Abwehrtechniken fokussiert sich die Arbeit auf in Deutschland rechtlich zulässige Abwehrmaßnahmen.


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Product Details
  • ISBN-13: 9783346126252
  • Publisher: Grin Verlag
  • Publisher Imprint: Grin Verlag
  • Height: 210 mm
  • No of Pages: 26
  • Spine Width: 2 mm
  • Width: 148 mm
  • ISBN-10: 3346126250
  • Publisher Date: 26 Feb 2020
  • Binding: Paperback
  • Language: German
  • Returnable: N
  • Weight: 45 gr


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Möglichkeiten der Abwehr feindlicher Übernahmeangebote in Deutschland. Präventive und Ad-Hoc Maßnahmen
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Möglichkeiten der Abwehr feindlicher Übernahmeangebote in Deutschland. Präventive und Ad-Hoc Maßnahmen
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