-The parliament, in its resolution, rejected the joint text approved by the conciliation committee on takeover bids. The vote was tied - 273 in favour, 273 against and 22 abstentions. The parliament's rules of procedure state that where there is a tied vote, the text shall be deemed rejected. Parliament has therefore followed the recommendation by its rapporteur, Klaus-Heiner Lehne (EPP/ED, Germany). He argued that the requirement for the board of a company that is the object of a takeover bid to refrain from taking defensive action until it has consulted its shareholders could only be justified if a 'level playing field' existed.
© 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