Takeover Theory and the Law and Economics Movement
Steven Davidoff Solomon
University of California, Berkeley - School of Law; University of California, Berkeley - Berkeley Center for Law, Business and the Economy
April 4, 2011
RESEARCH HANDBOOK ON THE ECONOMICS OF CORPORATE LAW, Claire Hill, Brett McDonnell, eds., Edward Elgar, 2011-2012
This chapter, from the forthcoming Research Handbook on the Economics of Corporate Law, examines the influence of the law and economics movement on takeover theory.
Beginning in 1965 with Henry Manne's famous theory of the market for corporate control and ending with the 2011 decision in Air Products v. Airgas, this chapter is an intellectual history of the law and economics field as applied to takeovers. It is also about possible new directions and topics for this field and its future use in structuring and analyzing takeover theory.
Number of Pages in PDF File: 26
Keywords: takeovers, hostile takeovers, poison pills, corporate governance, law and economics, Manne, shareholder activism, anti-takeover statutes, corporate control, tender offers, mergers
Date posted: April 5, 2011 ; Last revised: January 2, 2012