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In the old days, when an acquirer wanted to buy, he made an offer.
The acquirer could, of course, just buy the part it wants.
For now, the company remains the king of the acquirers.
How much will it be worth to a potential acquirer?
In such deals, the company with the higher value is likely to be seen as the acquirer.
A history and culture like that might give an acquirer pause.
He may also gain access to inside information on potential acquirers.
"And the only way they can do it is by doing what the hostile acquirer would have done."
This table could become quite large for a major merchant acquirer.
For many acquirers, debt has never been easier to get.
Thus the key can be how much capital the acquirer has at its disposal.
In other words, if the acquisition makes money, the acquirer pays more interest.
Demand for stocks by acquirers and the level of interest rates will be far more important.
"Once these companies are allowed to grow, they will be the acquirers.
But some analysts believe the universe of potential acquirers may not be that large.
Q. Are there other companies that you expect will be active acquirers?
"We didn't come this far not to take a hard look at the acquirer," he said.
This would present a potential acquirer with the position of having a hostile board for at least a year after the first election.
"The culture of the acquirer tends to become dominant," he said.
At that price, an acquirer would pay more than $1.3 billion.
Acquirers were promised that they could write off those bad loans over many years.
The acquirers often paid too much and got mediocre returns.
"Acquirers have gotten smarter and much more professional," he added.
But it should make the stock of the potential acquirers equally less valuable.
Often, the acquirer prevents its new dependent from hunting business.