Series Title | European Voice |
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Series Details | Vol 6, No.46, 14.12.00, p4 |
Publication Date | 14/12/2000 |
Content Type | News |
Date: 14/12/00 Bolkestein said the Parliament had overturned a crucial principle in the proposal that the management of target firms must consult shareholders before putting in place defensive 'poison pill' measures. As a result, he added, management could act to defend its own, potentially narrower interests rather than being obliged to act in the interests of shareholders as a whole. "This change would allow an important source of artificial take-over barriers to remain in place and so effectively hinder company restructuring on a pan-European level," he warned. Conciliation talks will be needed to try to settle differences over the final shape of the legislation. |
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Subject Categories | Law |
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