Mergers - Equity Derivatives Provision: Difference between revisions

Revision as of 17:03, 11 December 2012

In summary, this breaks down into:

Transfer: an irrevocable commitment to transfer all the Shares to another entity;
Merger: merger or binding share exchange of the Issuer with or into another entity where the other entity survives;
Takeover: takeover or tender offer by any entity;
Reverse Merger: merger binding share exchange of the Issuer with or into another entity where the Issuer survives but represents less than 50% of the resulting entity;

Where the Merger Date is before the final settlement date.

See with respect to Merger Events:

@@ Line 1: / Line 1: @@
 {{eqderivsnap|12.1(b)}}
 ====Commentary====
+In summary, this breaks down into:
+*'''Transfer''': an irrevocable commitment to transfer all the {{eqderivprov|Shares}} to another entity;
+*'''Merger''': merger or binding share exchange of the Issuer with or into another entity where the other entity survives;
+*'''Takeover''': takeover or tender offer by any entity;
+*'''Reverse Merger''': merger binding share exchange of the Issuer with or into another entity where the Issuer survives but represents less than 50% of the resulting entity;
+Where the {{eqderivprov|Merger Date}} is before the final settlement date.
 See with respect to {{eqderivprov|Merger Events}}:
 *{{eqderivprov|Calculation Agent Adjustment}};