Glossary
Short definitions of terms that come up in the posts, with a link to where each one appears.
- scheme of arrangement
- A court-approved agreement between a company and its shareholders or creditors. Takeovers often use it to buy the company.
- DoorDash's Acquisition of Deliveroo
- earn-out
- Extra money paid after a sale if the business hits an agreed target.
- Messi's Inter Miami Contract
- leveraged buyout
- A takeover paid for mainly with borrowed money, often secured on the company being bought.
- The Glazers, Manchester United and the Buccaneers
- Rule 2.8
- A Takeover Code rule that bars a bidder from bidding again for six months after it says it will not make an offer.
- Rio Tinto and Glencore's Failed Merger
- behavioural remedy
- A promise about how a merged business will act, used instead of a sale of part of the business.
- Vodafone and Three Merger
- tender offer
- An offer sent straight to shareholders to buy their shares at a set price.
- Ineos Investment in Manchester United
- judicial review
- A court case that asks whether a public body stayed inside its legal powers.
- Visa, Mastercard and Revolut v PSR
- private credit
- Lending by investment funds rather than by a bank.
- Virgin Atlantic's Heathrow Slot Financing
- minority stake
- A holding of less than half the shares, so it does not by itself give majority ownership.
- Ineos Investment in Manchester United
- owners and directors test
- A check on whether a person is suitable to own or run a football club.
- The Independent Football Regulator