This essay analyses problems related to mergers and divisions of companies where the transferred assets and liabilities, as a whole, have a negative value from an accounting or an effective/market point of view ("negative m/d"). Such operations, particularly frequent in crisis context, are scrutinized in relation to their pursued ames and relevant interest, as well as to their limits emerging from the law. A special attention is given to the interests of the involved shareholders and to the ways of their satisfaction, among which two discussed techniques are positively considered: the "double share exchange ratio" in divisions and the "inconsistent share exchange ratio" in mergers.
|Titolo tradotto del contributo
|[Autom. eng. transl.] Negative mergers and demergers
|Numero di pagine
|RIVISTA DI DIRITTO SOCIETARIO
|Stato di pubblicazione
|Pubblicato - 2018