M&A: Sell-Side and Buy-Side Processes
Free FINRA Series 79 (Investment Banking Representative) lesson in Mergers and Acquisitions, Tender Offers and Financial Restructuring. 15 min read, ~2,187 words.
Sell-side begins with the engagement letter; deal types are whole-company sale, divestiture (sell a unit), spinoff (pro-rata stock distribution to holders), and split-off (holders exchange parent shares for subsidiary shares). Structure splits two ways: asset sale vs stock sale, and statutory merger vs tender offer. A tax-free reorganization needs stock...
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What this lesson covers
- Content
- Example 1
- Example 2
- Common Mistakes
- Check Your Understanding
- Exam Shortcuts
Learning objectives
- C21
- C22
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