| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/02/1402 (2.10.02) |
| Publication Date | 02/10/2002 |
| Content Type | News |
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The European Commission presented its new proposal for a Directive laying down common rules for takeover bids on 2 October 2002. The proposal sets out to offer European firms greater legal certainty for cross-border takeover bids in the interests of all concerned, including their employees, and to protect minority shareholders where control of a company changes hands. To provide a framework for such corporate restructuring, which involves the laws and the authorities of more than one Member State, action at Union level is the only way to enable progress. That is why, although the previous proposal was rejected by the European Parliament in July 2001, the European Commission has remained convinced of the need for an EU Directive on takeover bids and has spared no effort in order to come forward as soon as possible with a new proposal that is likely to meet with the approval of the Council and Parliament |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/02/1402&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Law |
| Countries / Regions | Europe |
