By Kevin Douglas ( December 20, 2018, 12:08 PM EST) -- The use of stock as an acquisition currency by public companies making acquisitions of private companies plays a key role in many transactions. While some market studies indicate that the percentage of acquisitions — involving private company targets — in which acquirer stock has been used as part of the transaction consideration has decreased in recent years, this trend may be reversed if interest rates continue to rise — thus increasing the costs to acquirers associated with leveraged transactions — and equity valuations remain high in comparison to recent historical norms. This article explores legal considerations associated with the issuance of stock by a public company in connection with its acquisition of a private company....