Is The One-Step Merger Dead?

Law360, New York (August 27, 2013, 4:51 PM EDT) -- All signs point to a coming surge in tender offers, which are faster, cheaper and less prone to meddling by competing buyers or activists. So is the one-step merger on its way out?

About 22 percent of mergers last year used a tender offer, where acquirers buy shares directly from investors, according to FactSet Mergermetrics. That number has held about steady since 2008 after years in single-digit territory. But several developments have made them a more attractive way to buy a company.

Earlier this month, a...
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