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Can European Companies Escape U.S. Listings?

Robert Pozen

Harvard Business School; Brookings Institution

March 2004

Harvard Law and Economics Discussion Paper No. 464

European companies would like to deregister from the SEC system in light of Sarbanes Oxley. However, this takes at least 18 months for a foreign company listed on a US market, and is virtually impossible for a foreign company that has made a public offering in the US. Therefore, the SEC should adopt a geographic going private rule allowing a foreign issuer to opt out of the SEC system if the foreign issuer makes an offer to buy all shares of its US holders at a fair price as determined by an independent appraiser.

Number of Pages in PDF File: 6

Keywords: Sarbanes Oxley, SOX, securities regulation

JEL Classification: F21, G15, G38

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Date posted: April 25, 2004  

Suggested Citation

Pozen, Robert, Can European Companies Escape U.S. Listings? (March 2004). Harvard Law and Economics Discussion Paper No. 464. Available at SSRN: http://ssrn.com/abstract=511942 or http://dx.doi.org/10.2139/ssrn.511942

Contact Information

Robert Pozen (Contact Author)
Harvard Business School ( email )
Soldiers Field Road
Morgan 270C
Boston, MA 02163
United States
Brookings Institution ( email )
1775 Massachusetts Ave, NW
Washington, DC 20036
United States
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