Forcing the board of Validus Holdings to accept the $1.67bn bid from IPC Holdings allowed the firm’s client to block the consolidation of two competitor companies in the Bermudan catastrophe reinsurance market. It has revived the hostile scheme of arrangement as a viable takeover tool
Regulatory approval for migrating a Russian company also listed in the US
Originality
7
Rationale
7
Impact
7
Total
21
Description
The migration of VimpelCom, a Russian telecommunications company, resolved a five-year-old majority shareholder dispute and created the precedent for future tender offers effected by a Russian company also listed in New York
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