Stephen Bainbridge

Iman Anabtawi

This casebook embodies the conviction that theoretical and practical legal education are complementary and no more so than in the setting of M&A transactions, where corporate lawyers are regularly called upon to draw on their substantive knowledge of the law to advise clients on how best to effectuate their business objectives. Accordingly, this book retains the most significant judicial decisions in M&A jurisprudence while also making heavy use of textual explication, sample documentary provisions, and the latest teaching methods to deepen students' understanding of the relevant case law and prepare them for practice. The authors employ three principal pedagogical methods: Questions help students focus on information in the cases that is most relevant to the principles underlying specific topic areas. Problems hone students' abilities to interpret and apply the material to novel situations similar to those they might be asked to analyze in practice. Skills exercises provide time-efficient transactional skills training to students in the context of M&A. Additionally, this title is accompanied by online self-assessment quizzes, tied to the text, that help you gauge your understanding of the material.

A Transactional Perspective

Mergers and Acquisitions

Forty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Shareholders were essentially powerless and typically quiescent. Boards of directors were little more than rubber stamps. Today, the corporate governance landscape looks vastly different. The fall-out from the post-Enron scandal and implementation of the Sarbanes-Oxley Act have resulted in shareholder activism becoming more widespread, while many observers call for even greater empowerment. The notion that the board of directors is a mere pawn of top management is increasingly invalid, and as a result, modern boards of directors typically are smaller than their antecedents, meet more often, are more independent from management, own more stock, and have better access to information. The New Corporate Governance in Theory and Practice offers an interdisciplinary analysis of the emerging board-centered system of corporate governance. It draws on doctrinal legal analysis, behavioral economic insights into how individuals and groups make decisions, the work of new institutional economics on organizational structure, and management studies of corporate governance. Using those tools, Stephen Bainbridge traces the process by which this new corporate governance system emerged, and explores whether such changes are desirable or effective.

Stephen Bainbridge

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