Insider Trading: Issues in the Context of Mergers and Acquisitions

Insider trading poses special problems the context of mergers and acquisitions. Announcement of mergers and acquisitions (or take-over offers) often involve price sensitive information. In the ideal world, there would be complete confidentiality prior to the announcement of a take-over offer. Howeve...

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Main Author: Wan, Wai Yee
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2006
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Online Access:https://ink.library.smu.edu.sg/sol_research/460
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Institution: Singapore Management University
Language: English
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spelling sg-smu-ink.sol_research-14592010-09-21T08:36:04Z Insider Trading: Issues in the Context of Mergers and Acquisitions Wan, Wai Yee Insider trading poses special problems the context of mergers and acquisitions. Announcement of mergers and acquisitions (or take-over offers) often involve price sensitive information. In the ideal world, there would be complete confidentiality prior to the announcement of a take-over offer. However the planning of the take-over offer will often involve people who are in possession of confidential price sensitive information and the risk of leaks increases as more people are in the know. This paper highlights some of the insider trading issues and practical problems that are encountered on the propriety of dealings prior to the public announcement of a take-over offer, the issues relating to the communication of inside information to the prospective offeror by the target company or the vendor and the use of inside information in the course of the take-over offer. This paper suggests certain areas for reform, particularly relating to the exceptions and defences to insider trading in the context of take-overs. 2006-01-07T08:00:00Z text https://ink.library.smu.edu.sg/sol_research/460 Research Collection Yong Pung How School Of Law eng Institutional Knowledge at Singapore Management University Insider trading mergers and acquisitions Banking and Finance Law Business Organizations Law
institution Singapore Management University
building SMU Libraries
continent Asia
country Singapore
Singapore
content_provider SMU Libraries
collection InK@SMU
language English
topic Insider trading
mergers and acquisitions
Banking and Finance Law
Business Organizations Law
spellingShingle Insider trading
mergers and acquisitions
Banking and Finance Law
Business Organizations Law
Wan, Wai Yee
Insider Trading: Issues in the Context of Mergers and Acquisitions
description Insider trading poses special problems the context of mergers and acquisitions. Announcement of mergers and acquisitions (or take-over offers) often involve price sensitive information. In the ideal world, there would be complete confidentiality prior to the announcement of a take-over offer. However the planning of the take-over offer will often involve people who are in possession of confidential price sensitive information and the risk of leaks increases as more people are in the know. This paper highlights some of the insider trading issues and practical problems that are encountered on the propriety of dealings prior to the public announcement of a take-over offer, the issues relating to the communication of inside information to the prospective offeror by the target company or the vendor and the use of inside information in the course of the take-over offer. This paper suggests certain areas for reform, particularly relating to the exceptions and defences to insider trading in the context of take-overs.
format text
author Wan, Wai Yee
author_facet Wan, Wai Yee
author_sort Wan, Wai Yee
title Insider Trading: Issues in the Context of Mergers and Acquisitions
title_short Insider Trading: Issues in the Context of Mergers and Acquisitions
title_full Insider Trading: Issues in the Context of Mergers and Acquisitions
title_fullStr Insider Trading: Issues in the Context of Mergers and Acquisitions
title_full_unstemmed Insider Trading: Issues in the Context of Mergers and Acquisitions
title_sort insider trading: issues in the context of mergers and acquisitions
publisher Institutional Knowledge at Singapore Management University
publishDate 2006
url https://ink.library.smu.edu.sg/sol_research/460
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