The Takeover Bids Directive: An Opportunity for Europe or Simply a Compromise?

Abstract:     
The European Directive on takeover bids (2004) (henceforth, the Directive), was a highly debated piece of law and the opposition raised by the Member States was so strong that it took more than 30 years to reach agreement over the text now in force ( ). There was full awareness that the matter under discussion was one of the most important to define the structure of the European financial market and to intervene, at the European level, in the development of the market for corporate control.

Number of Pages in PDF File: 38

working papers series