Opinion of EcoSoC on Proposal on Takeover Bids Directive

11 July 1996

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The committee proposed wording for individual provisions to clarify their scope and content and to take better account of actual situations, and in particular the different laws of the member states. It also underlined the importance of the proper protection of minority shareholders in cases where bids do not fall within normal stock market operations but are made through an operation on the future market. With regard to disclosure during the procedure, the committee advocated a shorter deadline for acceptance of an offer and called for the rule governing the obligations of the offeree company to be clarified.

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