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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

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Volume 1, Issue 4 (Dec 2004)


The Mandatory Bid Rule in the Takeover Directive: Harmonization Without Foundation?

Luca Enriques
  • * Professor of Business Law, University of Bologna and ECGI Research Associate. E-mail address: luca.enriques@unibo.it
  • Other articles by this author:
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Published Online: 2012-04-18 | DOI: https://doi.org/10.1515/ecfr.2004.1.4.440

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?”.

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Published Online: 2012-04-18

Published in Print: 2004-12-01

Citation Information: European Company and Financial Law Review, ISSN (Online) 1613-2556, ISSN (Print) 1613-2548, DOI: https://doi.org/10.1515/ecfr.2004.1.4.440.

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