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Europe Daily Bulletin No. 8466

21 May 2003
Contents Publication in full By article 23 / 40
GENERAL NEWS / (eu) eu/takeover bids
United States puts pressure on Parliament not to include "reciprocity" provision in takeover directive, lifting the ban on defence measures during bids by US companies

Brussels, 20/05/2003 (Agence Europe) - US authorities are putting pressure on MEPs not to include a reciprocity provision in the draft EU Takeover Directive, as such a provision would suspend provisions of the legislation when the takeover bid is by a third country company which does not impose the same provisions. In a letter addressed to parliamentarians, the US government assures that such a provision would be "unnecessary, inconsistent with international agreements and harmful to US-EU...

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