The Council approved the amendments adopted by the European Parliament and signified its agreement to the text of the Directive with a view to its formal adoption, following finalisation of the texts by the legal/linguistic experts.
The European Parliament delivered its Opinion on 16 December 2003, adopting 30 amendments to the Commission proposal. These amendments are in conformity with the general approach agreed by the Council.
The Council reached unanimous agreement, with the abstention of the Spanish delegation, on a general approach to the draft Directive on takeover bids, based on a compromise text presented by the Italian Presidency.
The Commission stated on that occasion that it was not in a position to support the text. Given the existing differences between legal systems in the Member States, the Council decided to limit this Directive to a framework of certain common principles and a number of general requirements which Member States will have to respect through detailed implementing rules.
Council document
Council Document (corr.)
Commission press release
© Council of the European Union
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