Wealth Transfers among and between Bond Issues in Mergers and Acquisitions: Evidence from Bond Tender Offers Matthew T. Billett* and Ke Yang ** March 2011 Abstract: We explore the wealth effects of mergers and acquisitions to bondholders at the bond issue level using a sample of mergers and acquisitions that involve a tender offer for one or more of the target or acquiring firms’ bond issues. Over the period 2000-2008 such tender offers occur in 32% of the mergers and acquisitions involving targets
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The “Gospel of Wealth” was written by Andrew Carnegie during the Gilded Age and Progressive Era. He was born in Scotland and immigrated to the United States in 1848. Carnegie had very little of a formal education but grew up in a family that believed in the importance of books and learning. Jumping from job to job‚ he became one of the wealthiest businessman in America. Achieving this by investing and buying stocks in promising ventures like iron mills and factories. Finally founding his own company
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Is Health more Important than Wealth Health is much more important than wealth. Without our health‚ we would not be able to make the money that makes us wealthy. It ceases to amaze me what lengths people will go to in order to make money‚ some legal‚ and some illegal. If you are not healthy‚ what good is having a lot of money? If you have a deadly disease that there is no cure for‚ having tons of money is not going to do you any good‚ will it? Sure‚ you have lots of money to pass onto your
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ancient times of China‚ most people employ the symbolic meanings of good fortune to demonstrate their statuses and wealth. They not only utilised them in daily lives‚ but also integrate them into their cultures and arts. This trend was especially common in people who held tremendous amount of wealth and influence. Gourds and peonies in particular‚ represent auspiciousness and wealth in Chinese cultures. Numerous artists and artisans apply them into their paintings‚ potteries‚ and crafts so they can
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America’s wealth going to the top 1% (or estimated to be by 2016)‚ how can there be even the slightest argument for a peaceful nation where all are intermingled in a way that creates equality? The proven statistic of America’s wealth distribution is not equal to any other developed country of the same stature. There’s even more proof and evidence for the “So clear it shouldn’t have to be proven“ wealth inequality in America. Using a scale called the Gini coefficient to calculate wealth inequality
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country who already own so much of the wealth. Today The United States’ wealth distribution has a greater gap between the exceedingly wealthy and the rest of the citizens than it has in nearly the past decade. “There is something profoundly wrong when the top one-tenth of one percent owns almost as much wealth as the bottom 90 percent‚” believes Bernie Sanders. One of Bernie’s main platforms is redistribution of wealth and reduction in income along with wealth inequality. As a country filled with the
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with the central idea that wealth corrupts. Daisy Buchanan is the first character in the novel that has evidently been corrupted by wealth. Daisy‚ born and raised into an enormously wealthy family‚ never had to work for anything in life; anything she wanted was immediately given to her. Later in life she married Tom Buchanan --also extravagantly wealthy -- who "gave her a string of pearls valued at three hundred and fifty thousand dollars" (76). This life of wealth inevitably led to a life of
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class and wealth are usually coupled together—if a person is wealthy‚ we generally we generally view him/her as also being upper class‚ and vice-versa. This notion‚ however‚ is not present in The Importance of Being Earnest. In this play‚ wealth and class are rather different‚ yet they are so in ways that are not too surprising. If a character is wealthy‚ then they have a relatively large amount of money or land‚ whereas an upper class person simply acts a certain way. Algernon has both wealth and class
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accumulation of wealth? Carnegie believed that people were born with certain attributes that would lead them to be successful in their lifetime. He also mentioned the idea that we as human beings should accept the conditions that are placed in front of us and work around them to achieve the impossible. Also he believed that it is up to one’s ability and energy that will allow them to produce the wealth that they seek for themselves. 2. What are three ways Carnegie suggest to dispose of personal wealth? The
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In an article titled “Closing the health-wealth gap” Kristen Wein says‚ “People living at the low end of the socioeconomic spectrum may be most affected by health inequalities‚ but poorer health doesn’t exist only among the poor.” In this‚ the author is acknowledging that both the wealthy and the
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