This past weekend witnessed the passing
away of Henry Manne, one of the doyens of the law and economics movement
and corporate law generally. He was 86.
away of Henry Manne, one of the doyens of the law and economics movement
and corporate law generally. He was 86.
I remember Manne for his seminal
work on hostile takeovers and the market for corporate control, which is
contained in his 1965 article “Mergers and the
Market for Corporate Control” and followed up in a 2002 op-ed in the Wall
Street Journal titled “Bring Back the Hostile
Takeover”.
work on hostile takeovers and the market for corporate control, which is
contained in his 1965 article “Mergers and the
Market for Corporate Control” and followed up in a 2002 op-ed in the Wall
Street Journal titled “Bring Back the Hostile
Takeover”.
He is also well known for his
provocative stance on insider trading, particularly in his book “Insider
Trading and the Stock Market” wherein he defends the activity and calls for
its deregulation.
provocative stance on insider trading, particularly in his book “Insider
Trading and the Stock Market” wherein he defends the activity and calls for
its deregulation.
His life and scholarship have been
the subject matter of further literature, some of which is listed below:
the subject matter of further literature, some of which is listed below:
1. “Manne on
Insider Trading” by Stephen Bainbridge;
Insider Trading” by Stephen Bainbridge;