Country Report from Norway: The New Takeover Regime
European Company Law, Vol. 3, No. 1, pp. 35-39, February 2006
14 Pages Posted: 25 Jan 2006
Norway, the land of oil and honey, with a narrow majority scared of losing the country's relatively newly found independence, is one of three EFTA states in the European Economic Area that enjoys the questionable pleasure of implementing EC rules without getting to vote over them first. This report gives an overview of the takeover rules in Norway, highlighting the main proposed changes due to the implementation of the EC takeover directive. The Norwegian takeover committee has with visions of an even more competitive and liquid capital market endeavoured to get the Norwegian rules in line with those of its closest European neighbours, also beyond the demands of the directive. Not however, to the extent of opting in to the breakthrough rules - but then neither have any other EU or EFTA states.
Keywords: EC takeover directive, Norwegian takeover rules
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