Tag: Takeover Directive

France and Germany are at odds over a hostile takeover bid by French pharma company Sanofi for rival Aventis.

After 14 years of debates, the Council has decided to back a compromise proposal for a Takeover Directive, providing the EU with a framework of common principles for cross-border takeover bids.

The paper calls for an urgent adoption of an EU-wide regulation of company takeovers.

The Commission has sent its letter of "formal notice" to the German government, urging it to relinquish a law that the Commission suspects, protects VW from hostile take-over.

EU Commissioner Bolkestein and key German officials held talks to reach a compromise on the embattled takeover directive. Related talks with VW on potential legal action ended on a cautiously optimistic note.

The Commission might soon have to return to the drawing board on their renewed attempt to push a European-wide directive on company takeovers through, if a British-German alliance to block parts of it goes ahead.

The European Court of Justice on 4 June ruled against France and Portugal for having legislation giving the state exceptional stakes ("golden shares") in privatised companies. However, in another case against Belgium, the Court ruled that the Belgian rules were legal.

The European Commission set up a High Level Group of seven experts to study new priorities for the future development of EU company law. One of the main objectives of this experts' group will be to come up with new proposals concerning company takeovers after the recent failure to have the takeover Directive adopted.

European Parliament rejects in third reading conciliation compromise on takeover directive

Conciliation Committee between the European Parliament and the Council reaches compromise on takeover directive

Germany fails to win support for new proposal on EU takeover directive during permanent representatives meeting in Brussels on 9 May

The European Parliament adopted amendments to the Council's common position on the takeover directive