HOSTILE TAKEOVERS

Keith Nuthall
THE EUROPEAN Commission has greeted with anger the decision by the European Parliament to reject a proposed directive on harmonising financial procedures for takeover bids that take place within the European Union.

The proposal was formally tabled six years ago and has been the centre of intense debate, leading to what was supposed to be a final compromise, struck between the parliament and the EU Council of Ministers, meeting in a conciliation committee.

However, MEP's this week (Wed) refused to accept the final draft by one ...


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