Vollneukauf
Vollneukauf is a term used in German-speaking corporate finance and law to describe the acquisition of an entire company through the purchase of all its equity interests or all of its essential assets, resulting in full ownership by the buyer. In practice the term is used for both share deals (purchase of all outstanding shares of the target) and asset deals where the buyer acquires all relevant assets and liabilities. The choice between a complete share transfer or an asset deal depends on tax, legal, and operational considerations, including the allocation of liabilities and the treatment of employees and contracts.
The transaction typically proceeds through stages such as initial negotiations and due diligence, followed by the
Legal and regulatory aspects include compliance with corporate law and securities regulations. For listed targets, tender
Terminology and usage emphasize the completeness of ownership and contrast with partial acquisitions or minority stakes.
See also: mergers and acquisitions; share purchase agreement; asset deal; tender offer; antitrust regulation.