The Takeover Directive and its implementation in the Member States.

Cross-border takeover bids have become more and more important in the European economy. Until recently the bidder had to deal with very different national legal systems.

Now the European Directive on Takeover bids has harmonised the takeover regulations, creating a level playing field throughout Europe. However, within this framework, the Directive provides for optional arrangements so that some of the rules can be implemented differently in each Member State.

The compendium “Takeover bids in Europe” details the new takeover rules throughout many of the EU Member States.

The book:

·
explains the new Takeover Directive and its implementation in the 15 most important EU Member States,
·
addresses in particular the issues relating to bid procedure, mandatory bids, partial bids, equitable price, competent authorities designated by national law, and the disclosure requirements of the listed companies regarding capital and control structures,
·
details the existing takeover barriers in different Member States,
·
describes the optional arrangements of the Directive aiming at the restriction of takeover barriers and how the Member States use them,
·
covers the squeeze-out and sell-out provisions relating to minority shareholders after a successful takeover bid.

This manual presents a comparison of takeover legislation across the different EU countries. Capital market-oriented companies and their advisers can thus prepare for the new rules and use the existing opportunities – relating to both potential offeror and offeree companies. The compendium provides the information you need to plan and execute a cross-border takeover bid.

Benefits at a glance:

Easy to read
This book brings together information about 15 different national legal systems. The chapters on each Member State are structured identically, so that readers can easily compare the different legislations.

Up-to-date
This manual provides up-to-date information (reflecting the law as at 15 May 2008) by covering even those Member States that implemented the Directive in 2007 (such as Belgium, the Netherlands and Spain).

Expert
The authors are renowned Company Law experts: some advised the European Commission in their capacity as national experts, and some were amongst the members of the High Level Group of Company Law Experts set up in 2001 by the European Commission to provide independent advice on pan-European rules for takeover bids.

ISBN: 978-0-9557190-9-7
approx. 600 pages, hardcover, all in English
Normal price: £165

   
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