-The
amendments adopted are designed to strengthen the hand of companies facing a hostile bid. While the common position bans a company from taking defensive actions in the face of a hostile bid without the approval of shareholders, one amendment adopted introduces a number of options, one of which would allow the board, in conformity with national law, to take other defensive measures without consulting shareholders. Other amendments are designed to strengthen workers' rights, in particular with regard to access to information in the event of a bid and seek to oblige the company making the bid to state its intentions with regard to jobs and possible relocations. More amendments seek to allow defensive measures that had the prior authorisation of the general meeting, and introduced a clear definition of the meaning of an 'equitable price' of a bid, saying it should, under certain conditions, be payable in cash.
© European Parliament
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article