FAIRNESS OPINION is an investment banker's professional opinion as to the price an acquiring firm's is offering in a takeover or merger.
REVERSE TAKEOVER can occur in different forms: 1. a smaller corporate entity takes over a larger one.; 2. a private company purchases a public one; or, 3. a method of listing a private company while bypassing most securities regulations, whereby which a shell public company buys out a functioning private company whose management then controls the public company.
DISCRETIONARY SPENDING consists of US government expenditures that are set on an annual basis. It is a budget that members of Congress can adjust on a yearly basis. Examples of discretionary spending in the United States:
-Environmental Protection Agency
-Department of Veterans Affairs
When looking to cut costs, lawmakers usually look to trimming discretionary spending. See MANDATORY SPENDING.
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