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Regulating Mergers And Acquisitions Of Us Electric Utilities
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Book Synopsis Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication by : Scott Hempling
Download or read book Regulating Mergers and Acquisitions of U.S. Electric Utilities: Industry Concentration and Corporate Complication written by Scott Hempling and published by Edward Elgar Publishing. This book was released on 2020-10-30 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: What happens when electric utility monopolies pursue their acquisition interests—undisciplined by competition, and insufficiently disciplined by the regulators responsible for replicating competition? Since the mid-1980s, mergers and acquisitions of U.S. electric utilities have halved the number of local, independent utilities. Mostly debt-financed, these transactions have converted retiree-suitable investments into subsidiaries of geographically scattered conglomerates. Written by one of the U.S.’s leading regulatory thinkers, this book combines legal, accounting, economic and financial analysis of the 30-year march of U.S. electricity mergers with insights from the dynamic field of behavioral economics.
Book Synopsis Regulating Mergers and Acquisitions of U.S. Electric Utilities by : Scott Hempling
Download or read book Regulating Mergers and Acquisitions of U.S. Electric Utilities written by Scott Hempling and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 4.0 License. It is free to read, download and share on Elgaronline.com. What happens when electric utility monopolies pursue their acquisition interests--undisciplined by competition, and insufficiently disciplined by the regulators responsible for replicating competition? Since the mid-1980s, mergers and acquisitions of U.S. electric utilities have halved the number of local, independent utilities. Mostly debt-financed, these transactions have converted retiree-suitable investments into subsidiaries of geographically scattered conglomerates. Written by one of the U.S.'s leading regulatory thinkers, this book combines legal, accounting, economic and financial analysis of the 30-year march of U.S. electricity mergers with insights from the dynamic field of behavioral economics.
Author :United States. Congress. Senate. Committee on Energy and Natural Resources Publisher : ISBN 13 : Total Pages :112 pages Book Rating :4.0/5 ( download)
Book Synopsis Regulation of the Electric Utility Industry by : United States. Congress. Senate. Committee on Energy and Natural Resources
Download or read book Regulation of the Electric Utility Industry written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 2008 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Utility Mergers and the Restructuring of the New Global Power Industry by : Edward B. Flowers
Download or read book U.S. Utility Mergers and the Restructuring of the New Global Power Industry written by Edward B. Flowers and published by Praeger. This book was released on 1998-05-30 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consume thy rival may be the new law of corporate survival in the U.S. utilities industry. This book describes close to $70 billion of global utility mergers stemming from the anticipated deregulation of the U.S. gas and electrical utilities industries. Occurring from 1995 to 1997, these mergers are completely restructuring U.S. power utilities. Thirty-seven billion dollars of these mergers, a full 53 percent, occurred abroad. About two-thirds of the foreign mergers were U.S. takeovers, while the remaining one-third was mergers, defensive and otherwise, of U.K. firms with other U.K. firms. This may be the first time U.S. industrial restructuring has generated more investment abroad rather than in domestic markets. Exploring the diversity of strategies and changes driving these mergers, the author concludes that although complex, the mergers can be explained by strategies traditionally used in domestic M&As. These very large U.S. utilities now consider themselves to be operating in a global industry of private, deregulated utilities, and they are determined to survive through mergers that help them cut costs, spread expenses, and increase profits.
Author :United States. Securities and Exchange Commission. Division of Investment Management Publisher : ISBN 13 : Total Pages :186 pages Book Rating :4.:/5 (327 download)
Book Synopsis The Regulation of Public-utility Holding Companies by : United States. Securities and Exchange Commission. Division of Investment Management
Download or read book The Regulation of Public-utility Holding Companies written by United States. Securities and Exchange Commission. Division of Investment Management and published by . This book was released on 1996 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry by : John R. Becker-Blease
Download or read book Mergers and Acquisitions as a Response to the Deregulation of the Electric Power Industry written by John R. Becker-Blease and published by . This book was released on 2009 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: As a response to the deregulation of the electric power industry, many electric utilities adopted a strategy of acquiring other electric or gas utilities. We examine whether these merger and acquisition strategies create value for the utility shareholders and whether the strategies result in superior post-merger operating and stock-price performance relative to utilities that did not grow through acquisitions. We find little evidence that the mergers and acquisitions created long-term value for a fully diversified investor. Furthermore, the stock price and operating performance of the acquirers under performed the stock price and operating performance of a control portfolio of utilities that did not engage in merger activity. This under performance was even worse for those utilities that diversified along product/power or geographic lines. We conclude that if efficiencies and synergies were created as a result of deregulation, utilities did not have to grow through merger to capture them. Our findings also suggest that utility regulation did not preclude economically efficient mergers that increased shareholder wealth from taking place prior to deregulation.
Book Synopsis Regulating Public Utility Performance by : Scott Hempling
Download or read book Regulating Public Utility Performance written by Scott Hempling and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Organizing a century of legal principles to help the U.S. public utility industry resolve tensions created by the current legal boundaries of legal regulation and fashion new policies for the future. Its mix of case narratives and doctrine, drawn from all legal sources, is geared to lawyers and non-lawyers, veterans and novices, practitioners and decision-makers, academics and the media--anyone seeking to use the law to serve the public interest. Topics covered include market structure, pricing, and jurisdictional issues.
Book Synopsis Electric Utility Mergers by : Mark W. Frankena
Download or read book Electric Utility Mergers written by Mark W. Frankena and published by Bloomsbury Publishing USA. This book was released on 1994-07-30 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: Competition in the generation, transmission, and distribution of electricity is of increasing interest to policy makers as well as to buyers and sellers of power. The use of competition as a social policy tool to benefit consumers carries the necessity of preserving competition when it is threatened by mergers or other structural changes. The work explains central principles of antitrust economics and applies them to mergers in the electric power industry. This work focuses on mergers, but the economic principles explained here will be useful in analyzing many important issues flowing from growth of competition in electric power. For example, proper definition of markets and analysis of market power will be useful in decisions on whether to continue regulation.
Book Synopsis Electric Utility Mergers and Regulatory Policy by :
Download or read book Electric Utility Mergers and Regulatory Policy written by and published by . This book was released on 1992 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Electricity Supply by : United States. General Accounting Office
Download or read book Electricity Supply written by United States. General Accounting Office and published by . This book was released on 1992 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The End of a Natural Monopoly by : Daniel H. Cole
Download or read book The End of a Natural Monopoly written by Daniel H. Cole and published by Routledge. This book was released on 2003-07-17 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the fundamental issues underlying the debate over electric power regulation and deregulation. After decades of the presumption that the electric power industry was a natural monopoly, recent times have seen a trend of deregulation followed by panicked re-regulation.
Book Synopsis Mergers in Regulated Industries by : Dennis W. Carlton
Download or read book Mergers in Regulated Industries written by Dennis W. Carlton and published by . This book was released on 2007 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Public Regulation of Private Electric Utilities by : John Cornelius Dalton
Download or read book Public Regulation of Private Electric Utilities written by John Cornelius Dalton and published by . This book was released on 1936 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis U.S. Electric Utility Industry Mergers and Acquisitions by : Resource Data International
Download or read book U.S. Electric Utility Industry Mergers and Acquisitions written by Resource Data International and published by . This book was released on 1993* with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Mergers, Acquisitions and International Financial Regulation by : Daniele D'Alvia
Download or read book Mergers, Acquisitions and International Financial Regulation written by Daniele D'Alvia and published by Routledge. This book was released on 2021-11-29 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a much-needed work in the financial literature, and it is the first book ever to analyse the use of Special Purpose Acquisition Companies (SPACs) from a theoretical and practical perspective. By the end of 2020, more than 240 SPACs were listed in the US (on NASDAQ or the NYSE), raising a record $83 billion. The SPAC craze has been shaking the US for months, mainly because of its simplicity: a bunch of investors decides to buy shares at a fixed price in a company that initially has no assets. In this way, a SPAC, also known as a "blank check company", is created as an empty shell with lots of money to spend on a corporate shopping spree. Could the trend be here to stay? Are SPACs the new legitimate path to traditional IPO? This book tackles those questions and more. The author provides a thorough analysis of SPACs including their legal framework and how they are used as a risk mitigation tool to structure transactions. The main objectives of the book are focused on finding a working definition for SPACs and theorising on their origins, definition, and evolution; identifying the objectives of financial regulation within the context of the recent financial crisis (2007–2010) and the one that is currently unfolding (Covid-19); and also describing practical examples of SPACs through a comparative study that, for the first time, outlines every major capital market on which SPACs are listed, in order to identify a possible international standard of regulation. The book is relevant to academics as well as policymakers, international financial regulators, corporate finance lawyers as well as to the financial industry tout court.
Author :United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power Publisher : ISBN 13 : Total Pages :216 pages Book Rating :4.F/5 ( download)
Book Synopsis The Securities and Exchange Commission Report Entitled by : United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power
Download or read book The Securities and Exchange Commission Report Entitled written by United States. Congress. House. Committee on Commerce. Subcommittee on Energy and Power and published by . This book was released on 1996 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. Senate. Committee on Energy and Natural Resources Publisher : ISBN 13 : Total Pages :136 pages Book Rating :4.F/5 ( download)
Book Synopsis Regulation of Registered Electric Utility Holdling Companies by : United States. Congress. Senate. Committee on Energy and Natural Resources
Download or read book Regulation of Registered Electric Utility Holdling Companies written by United States. Congress. Senate. Committee on Energy and Natural Resources and published by . This book was released on 1992 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt:
