European Takeovers

The Art of Acquisition, 2nd Ed

Edited by Jeremy Grant

Publication date:

01 June 2018

Publisher

Globe Law and Business

ISBN-13: 9781787421790

'European Takeovers' provides a complete guide to the European Takeover Directive, national M&A regulation and the interaction between domestic and pan-European regulation. It contains a detailed discussion of the fundamental principles of national and European law, its application and the various practical issues that companies and their advisers face as they plan, defend and execute takeovers. This second edition further explores the area following the partial harmonisation of takeover regulation within the European Union since the introduction of the European Takeover Directive and is an exhaustive reference source for anyone preparing, participating in and responding to takeover activity in the EU. In addition, US takeover law is examined in depth to provide a comparative perspective. This new edition will also prove to be an invaluable guide for students and academics studying this area of law. Written by leading legal and banking professionals, and academics from across Europe, 'European Takeovers' will help you navigate national takeover legislation and its implementation, and discusses recent ground-breaking and controversial takeovers from across the Continent. Notable transactions examined include Akzo Nobel-PPG, Syngenta-ChemChina, Actelion-J&J, Celesio-McKesson, Abertis-ACS/Atlantia and SAB Miller-AB InBev.

Introduction 5 Jeremy Grant London School of Economics The Takeover Directive and judicial enforcement of shareholder rights in practice 7 Jülide A Bredée Charles Demoulin Felix von Zwehl Deminor Recovery Services Creeping acquisitions in Europe 27 Luca Enriques University of Oxford Matteo Gatti Rutgers Law School Convertible bonds and the best price rule: the Celesio case 39 Jeremy Grant London School of Economics Tom Kirchmaier Copenhagen Business School and London School of Economics Casimiro A Nigro LUISS Guido Carli; Goethe Universität Belgium 53 Philippe Remels Paul Van Hooghten Linklaters LLP Finland 81 Klaus R Ilmonen Hannes Snellman Attorneys Ltd France 89 Sophie de Beer Valérie Lemaitre Cleary Gottlieb Steen & Hamilton LLP Germany 105 Jeremy Grant London School of Economics Greece 125 Alexander S Metallinos Karatzas & Partners Italy 135 Jeremy Grant London School of Economics Gianluca Leotta ELR LEX Luxembourg 153 Noémi Gémesi Laurent Schummer Arendt & Medernach Netherlands 177 Christiaan de Brauw Olivier Valk Allen & Overy LLP Poland 209 Łukasz Gasin´ski Jakub Zagrajek Weil, Gotshal & Manges Portugal 235 Bruno Ferreira PLMJ Spain 247 Alejandro Fernández de Araoz Araoz & Rueda Abogados Sweden 279 Patrik Marcelius Thomas Wallinder Mannheimer Swartling Switzerland 293 Pascal Hubli Lorenzo Olgiati Martin Weber Schellenberg Wittmer Ltd United Kingdom 307 Matthew Hamilton-Foyn Simon Jay Cleary Gottlieb Steen & Hamilton LLP United States 325 Jeremy Grant London School of Economics About the authors 363

The chapters of this edited book, which are written by prominent academics and practitioners, are also excellent from a substantive point of view. It is certainly a welcome addition to the ongoing debate about the harmonisation of takeovers at EU level.