Maurović, Ljiljana (2004) The Thirteenth Directive on Takeover Bids Acceptance and Leagl Harmonisation of Croatian Law. In: IV Inernational Conference "Economic System of European Union and Accession of the Republic of Croatia", 9-10.05.2003., Opatija, Hrvatska.
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In spite of the fact that EU directive on takeover bids acceptance is a conditin for an integrated capital market in the Union, takeover law establishing in the frame of the EU, as a companx law's part, is a long-time procedure.Because of the fact that proposed directive has been rejected after lasting process, Member states have decided to national laws that will prevent easy cross border takeover.After the proposal of the 13th directive on takeover bids has been rejected, activities in the frame of the EU were continuing on establishing appropriate takeover rules.The omission of appropriate target company's managament authorisation on undertaking defensive measures against hostile takeover and inappropriate shareholders' position are main defaults in the proposed directive.It will be necessary to include protection measures against hostile takeover in improvement proposed directive contents, especially protective procedure that is conductive, and to accept appropriate measures by target company' shareholders.Among national laws that have been adopted in the time of discussing proposed EU directive 13th on takeover bids, German Takeover Code holds a special place.Its athors estimate that this code consists rules, which are insufficient in the proposed directive.In futher activities on improving proposed directive 13th it will be necessary to analyse the opinion of established expert EU team and its last proposal.Takeover law of the Republic of Croatia in the main part has accepted proposed directive 13th rules.Meanwhile, it is necessary to examine the need of Croatian rules on including defensive measues against takeover, similar as German code rules.Maybe, it is in good time, before significant takeovers would be launched in Croatia, to supplement the Takeover Law with rules about measures that management and shareholders can execute in he case of hostile takeover.It is important for Croatia equally as for the EU member states to include instruments and to use them, until obligatory law harmonisation after the directive acceptance.
| Tip objekta: | Materijal konferencije ili radionice (Paper) |
|---|---|
| Mentor: | NIJE ODREĐENO |
| Ključni pojmovi: | takeover law, 13th directive, minority shareholders protection, public offer, hostile takeover, public bid, target company. |
| Teme: | 3 Društvene znanosti > 34 Pravo. Pravna znanost |
| Odjeli: | Fakultet ekonomije i turizma "Dr. Mijo Mirković" |
| Datum pohrane: | 24 Feb 2014 12:58 |
| Zadnja promjena: | 24 Feb 2014 12:58 |
| URI: | http://eknjiznica.unipu.hr/id/eprint/3708 |
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