Financial Executive, October 1st, 2004
Governance responsibilities for boards of directors have expanded significantly in merger and acquisition activities--moving well beyond simply obtaining a fairness opinion to being entrusted with evaluating strategic rationales and reviewing the adequacy of post-acquisition planning.
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Directors are being held to this higher level of governance, both in the courts and by new legislation such as The Sarbanes-Oxley Act of 2002. This is a reaction to behavior at the peak of the financial cycle--the rising stock market, bursting bubble, accounting restatements and weak go...
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