IBD Takeover Defense Groups Interviews
Hi guys,
I'm currently at a target and have some interviews coming up with a bank's hostile takeover defense groups. Basically the group giving advice to target of a hostile takeover.
I've been having some trouble getting good info on what these groups do day-to-day and what to expect in an interview. Banks don't even call it the same thing - GS calls if activism defense/shareholder advisory, CS calls it contested situations, Lazard calls it corporate preparedness, etc. Seems to be a mix of banking and merger law in a lot of cases. Does anyone have experience working in one of these groups or interviewing with one? What kind of questions might be asked in a SA interview, and what resources (textbooks, U.S. merger laws) should I look at?
Any info would be greatly appreciated, thanks!
Bump, interested in this as well
Read about high profile activism situations. Easy way to find them is to look up David Benoit author page on WSJ website and read his articles - he is lead activism reporter. Understand / know about the key players in the activism environment. Understand what activists push for: breakup, sale, capital return, expense cuts, board representation, etc). Look up the Harvard Governance website and read about recent trends in governance. Research common takeover defenses (classified board, special meeting, written consent) and know what a rights plan is. Understand the shareholder landscape and the interplay between activists, active managers, and passive / index funds.
Activism Defense within IB is really a blend of corporate finance (less modeling heavy on day to day basis vs traditional IB but you definitely need to understand it), governance, takeover law, and specialized knowledge on the key players and how campaigns take place (and how to respond). It's an interesting field and is becoming more popular recently.
Good shit
Hi I have an interview with a bank in the next few weeks and was wanting to know what kind of technical questions do they expect you to be able to answer are they the same as the M&A technicals. If not could you give a few examples if you didn't mind it would be much appreciated.
For some reason this is one of the least surprising, but at the same time, funniest things about investment banking I've read.
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