Place in American Financial History
Dean Henry G. Manne of the George Mason University School of Law put forward the view at the time of Wolfson's death that Wolfson was a unique and immense contributor to the wealth of the U.S. (and world economy) for having invented the modern hostile tender offer.
"Wolfson's contribution to human welfare far exceeded the total value of all private philanthropy in history. He invented the modem hostile tender offer. This invention, which activated and energized the market for corporate control, was the primary cause of the revolutionary restructuring of American industry in the 1970s and '80s, and the ensuing economic boom."
Read more about this topic: Louis Wolfson
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