MONETA Money Bank: A Failed Merger with AirBank Group and the Protection of the Dividend
|Autor:||Bc. Radim Hlavatý|
|Rok:||2022 - letní|
|Vedoucí:|| Mgr. Magda Pečená Ph.D.
|Typ práce:|| Bakalářská
|Abstrakt:||The proposed merger between MONETA Money Bank and the subsidiaries of
PPF AirBank and the Czech and Slovak parts of Home Credit was to create the
ffth largest bank in the Czech Republic. In this bachelor thesis, we conducted
an empirical investigation of MONETA’s shareholder value creation associated
with announcements related to the merger proposals. Using an event study
methodology, we found that MONETA’s shareholders benefted from the proposals both when MONETA was in the position of the acquirer and when it was
in the position of the target company. Since the merger ultimately did not go
through and PPF’s nearly 30% stake in MONETA remained intact, we further
explored possible legal remedies against an unjustifed decision not to declare
dividends resulting from the oppression of the majority shareholder. We suggested a method by which a minority shareholder may exercise its fundamental
right to a dividend.