| Author (Corporate) | European Commission: Press and Communication Service |
|---|---|
| Series Title | Memo |
| Series Details | MEMO/00/36 (19.6.00) |
| Publication Date | 19/06/2000 |
| Content Type | News, Overview |
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The European Commission has welcomed the adoption by the Council of Ministers on 19 June 2000 of a Common Position on the Directive on takeover bids. This Directive is part of the EU's Financial Services Action Plan and is an important element in achieving the target of a single market in financial services by 2005, set by the Lisbon European Summit. It will guarantee legal certainty for takeovers by setting minimum guidelines for corporate conduct. In particular, it aims to ensure an adequate level of protection for minority shareholders throughout the Union when control of a company changes. Under the co-decision procedure the Directive will now be sent to the European Parliament for a second reading, which must be completed by the end of October. |
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| Source Link | http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/00/36&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Law |
| Countries / Regions | Europe |
