Strong back-end support, leading to trading success
Strong back-end support, leading to trading success
Blueprint for a successful business combination
Sound the market
Early momentum is critical
Deal marketing
Process can be iterative
Investor "approval"
Deutsche Bank
Corporate & Investment Banking — Under NDA, prior to announcement, meet with a combination of existing shareholders and prospective investors
— Feedback is valuable and will shape how the acquisition is communicated to the market
— "Third party validation"
— File proxy or tender documents shortly after announcement to expedite process
— Encouraging new buyers to acquire shares in the open market immediately helps to create urgency in the market and push
share price up towards cash value
— With early momentum, existing holders are more likely to be supportive
— Roadshow to investors immediately post announcement
— Focus on natural, fundamental owners for the new company
— Visit with existing shareholders to get their support as well
— Important to stay in front of shareholders throughout process
— Financialswill be updated, as required
— Keep marketing
— Goal is to have shares trading at a premium to cash in trust
— As a result of the marketing, shareholders may be different than at the time of the announcement or the IPO as shares will
recycle
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