European Company and Financial Law Review
Ed. by Conac, Pierre-Henri / Davies, Paul / Cordt, Yves / Embid Irujo, Jose Miguel / Fernandez de la Gándara, Luis / Ferrarini, Guido / Fleischer, Holger / Hirte, Heribert / Hommelhoff, Peter / Hopt, Klaus J. / Kalss, Susanne / Kroeze, M. J. / Merkt, Hanno / Teichmann, Christoph / Urbain-Parleani, Isabelle / Crone, Hans Caspar / Ventoruzzo, Marco / Wyckaert, Marieke
4 Issues per year
The Mandatory Bid Rule in the Takeover Directive: Harmonization Without Foundation?
The following article critically evaluates the mandatory bid rule in the new Takeover Directive. It questions the rationale and the effectiveness of this central feature in light of the wide discretion left to the Member States, in particular regarding the permissibility of defensive measures, and ends with provocative views on “cui bono?”.