German Government Moves To Protect Firms From Foreign Takeovers
According to a report in the Financial Times Deutschland this week, the German
government is planning to put in place measures to allow firms to defend themselves
against hostile takeovers, in contravention of proposed EU legislation designed
to faciliate cross-border mergers. The German business daily reported that the new directive aims to lift national
barriers against takeovers to make it easier for cross-border mergers to take
place, but revealed that the German authorities are using a clause in the same
directive to opt out of implementing the rules. The measures set to be introduced by the government include allowing firms
to implement capital increases, or to look for an alternative 'friendly' buyer. "The goal of our draft laws is to provide (companies with) the same ammunition.
Therefore, the right to defend itself, which a German company now enjoys, should
remain in place," FT Deutschland quoted Finance Ministry division head
Joerg Asmussen as announcing. .
|
|
IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.