TITLE

Fairness Opinions and Success Fees Can Make for Volatile Mix

AUTHOR(S)
Placenti, Frank M.
PUB. DATE
May 2007
SOURCE
Investment Dealers' Digest;5/7/2007, Vol. 73 Issue 18, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the decision of the Delaware Chancery Court concerning the issue behind the merger of Caremark Inc. with CVS Corp. According to the author, the Court had viewed that the commonly practiced investment banking fee structure in the U.S. requires disclosure and the success fee for the financial advisers is a contingent compensation for the bank's fairness opinions. In this case, the National Association of Securities Dealers (NASD) had proposed the NASD Rule 2290.
ACCESSION #
25008000

 

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