PROMOTING (IN)EFFICIENCY? Cross-border takeovers and takeover defenses in the European Union with and without the proposed 13th Company Law Directive; Theoretical application of simple finance theory and transaction cost economics
The market for corporate control is one of the cornerstones of economical systems in every country. The Commission of the European Communities has tried for the past 15 years to get accepted a Directive that aims at harmonizing takeover regimes in the Member States of the European Union. The paper examines the rationales behind takeovers and methods to prevent them from occurring through two alter
