This kind of action is acting in concert with another to hide the intention to purchase and is not legal. Some investors will try to avoid hitting that percentage by spreading the purchases among a number of parties.
in concert synonyms, in concert pronunciation, in concert translation, English dictionary definition of in concert. 1. in concert - with a common plan; "act in concert" together Based on WordNet 3.0, Farlex clipart collection.
Securities law requires that a party looking to take over or buy a commanding share in a company state those intentions publicly, after having bought up a certain percentage of the company's shares. Together, jointly, as in They worked in concert on the script, or When mind is in concert with body, one can accomplish a great deal. See also: Joint venture. See also: Joint venture. together: If the member countries would act in concert, the problem … If investors believe their interests were harmed by others acting in concert, they may sue. Allergan, which did not want to be acquired by Valeant, and two state pension plans sued Ackman and Valeant for violating securities laws on the grounds of insider trading. Investors are usually required to declare any takeover intentions or place a tender offer after acquiring a specific percentage of shares in a company.
This especially applies to two institutional investors acting in concert; for example, they may act together to take over a smaller company and split the management duties between them. Dictionary, Encyclopedia and Thesaurus - The Free Dictionary, the webmaster's page for free fun content, acquisition, development, and construction loan, ACT Association for the Teaching of English. Describing two or more investors coordinating with each other to achieve the same investment goal. Valeant agreed to pay $96.25 million, the other portion of the $290 million total settlement. DEFINITIONS 1 1 if two or more people do something in concert, they do it together The buyout was planned by a number of companies acting in concert. It was codified in 1984 with the CFAA. playing or singing with other musicians in a public performance: She was appearing in concert at Carnegie Hall. A takeover occurs when an acquiring company makes a successful bid to assume control of a target company. However, some may try to spread the ownership percentage among friendly parties in an attempt to avoid declaring or bidding. Top synonyms for act in concert (other words for act in concert) are act together, act in unison and work together. This especially applies to two institutional investors acting in concert; for example, they may act together to take over a smaller company and split the management duties between them. Acting in concert is a reference to the process of two or more parties teaming up together to reach the same result. Furthermore, no arrangement to which Rule 8.7 of the Takeover Rules applies exists between Sumitomo, Bidco or Fyffes or a person Acting in Concert with Sumitomo, Bidco or Fyffes in relation to Fyffes Ordinary Shares. Acting in concert requires the cooperation of people or corporations to make the same transactions based on a previous arrangement. Ackman's fund independently accumulated a large position in Allergan and then teamed up with Valeant to bid for Allergan. In the interests of confidentiality, Sumitomo and Bidco have made only limited enquiries in respect of certain parties who may be deemed by the Panel to be Acting in Concert with them for the purposes of the Acquisition. Actavis and Allergan did end up consummating a deal in March 2015, which delivered a huge investment gain to Ackman. Valeant stock had soared over $250 per share in July 2015; when Ackman sold his shares in March 2017, they were trading at around $11 per share. Define in concert. Computer abuse is the use of a computer to do something improper or illegal. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional. Act In Concert synonyms. acting in concert means (i) knowing participation in a joint activity or interdependent conscious parallel action towards a common goal whether or not pursuant to an express agreement or understanding; or (ii) a combination or pooling of voting or other interests in the securities of an issuer for a common purpose pursuant to any contract, understanding, relationship, agreement or other arrangement, whether … Acting in concert with Valeant was a painful experience for Bill Ackman and Michael Pearson. It was alleged that Bill Ackman, leader of the hedge fund Pershing Square Capital Management, and Michael Pearson, CEO of Valeant Pharmaceuticals International, acted in concert to try to purchase Botox maker Allergan Inc. in 2014.
formal. In the meantime, Allergan began putting together a deal with Actavis Plc to thwart efforts by Ackman and Valeant. This expression uses concert in the sense of “an agreement of … https://financial-dictionary.thefreedictionary.com/act+in+concert. The issue of acting in concert is often examined in the world of acquisitions.
In the financial markets, it refers to … Acting in Concert. in concert.
♦ in concert phrase PHR after v I want people to remember Elvis in concert. Describing two or more investors coordinating with each other to achieve the same investment goal. There are several types and reasons for mergers. Acting in Concert. Adv. Two or more investors acting together to achieve a common goal. The offers that appear in this table are from partnerships from which Investopedia receives compensation. Financial Technology & Automated Investing. 2 If a musician or group of musicians appears in concert, they are giving a live performance. All contents of the lawinsider.com excluding publicly sourced documents are Copyright © 2013-. Acting in concert is a slang term for when parties undertake identical investment actions to achieve the same goal. Regulators have determined that if people are acting in concert and the sum of ownership exceeds the specified percentage, the group must declare its intentions. All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. In the financial markets, it refers to multiple investors who are working in tandem toward a financial outcome, such as establishing a controlling interest in a firm or outright taking over the company. in concert. He squandered those gains and more, however, after he reinvested the proceeds into Valeant, whose enormous debt levels and alleged fraudulent accounting practices sent investors fleeing. A merger is an agreement that unites two existing companies into one new company. Adding insult to injury, Ackman was forced to finally settle the outstanding lawsuit against him, paying $193.75 million. An initial coin offering (ICO) is an unregulated means by which funds are raised for a new cryptocurrency venture. A stock split is when a company divides the existing shares of its stock into multiple new shares to boost the stock's liquidity. This happened in the following high-profile case that began in 2014. For example, a number of relatively large investors may accumulate a major position in a security in an attempt to influence management decisions. The Sherman Antitrust Act is a landmark U.S. law, passed in 1890, which outlawed trusts—monopolies and cartels—to increase economic competitiveness.