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DIFFERENT LEGISLATIONS REGARDING OPAs

Author

Listed:
  • DARCY FUENZALIDA
  • MAURICIO NASH

Abstract

An analysis was made of then effect of the Tender Offer Law in Chile, and of the related situation of five countries with a more developed market than the Chilean one, reaching the conclusion that in order to successfully implement a Tender Offer Law it is necessary to bear in mind that the problem is not solved by establishing standards that regulate transactions,but by creating instances that contribute to a more dynamic and efficient market. In addition,there should exist a balance between protection of the minority stockholder and competition for corporate control. Finally, we can conclude that there is evidence that the Tender Offer Law has depressed the Stock Exchange.

Suggested Citation

  • Darcy Fuenzalida & Mauricio Nash, 2004. "DIFFERENT LEGISLATIONS REGARDING OPAs," Estudios Gerenciales, Universidad Icesi, May.
    • Handle: RePEc:col:000129:002352
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    More about this item

    Keywords

    Tender Offer; Tender Offer Law andTender Offer System Law.;

    JEL classification:

    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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