Brussels, 30/03/2004 (Agence Europe) - The Council has definitively adopted the directive on takeover bids, which aims to make the cross-border acquisitions of businesses on European stock exchanges easier.
After eleven years of discussions, this text still does not resolve the main point for which it was presented by the Commission in 1989: ensuring that shareholders, and not the managers, of a company have the final say in a hostile takeover bid. This proposal was strenuously opposed by...