000			01727cam a2200301 4500500
005			20250112034706.0
041			_afre
042			_adc
100	1	0	_ade La Bruslerie, Hubert _eauthor
245	0	0	_aShould you remain a minority shareholder in a company after its acquisition?
260			_c2021.
500			_a61
520			_aIn mergers and acquisitions (M&A), the targets’ shareholders are incited to stay as minor shareholders if the prospects for creation of value are reasonable. They ask that participation or sharing processes are agreed with the controlling shareholder, ensuring they profit from synergy gains. These contractual devices primarily involve the negotiation and definition of an incentive package aimed at the new controlling shareholder, allowing them to seize a disproportionate part of the value creation. Recognizing the role of private profits appears as a condition for the new controlling shareholder to accept minor investors beside them. The other regulating device is debt. Releveraging the target firm is a common goal for shareholders, allowing them to avoid the financial risk of creditors’ holdup.
690			_aexternal growth
690			_aincentives
690			_amergers and acquisitions
690			_aacquisition financing
690			_avendor finance
690			_aminority shareholders
690			_aexternal growth
690			_aincentives
690			_aMergers and acquisitions
690			_aacquisition financing
690			_avendor finance
690			_aminority shareholders
786	0		_nManagement & Prospective | Volume 38 | 3 | 2021-11-19 | p. 165-177
856	4	1	_uhttps://shs.cairn.info/journal-gestion-2000-2021-3-page-165?lang=en
999			_c169261 _d169261