Bankers reject Labour's public interest bid plan
Article Abstract:
The United Kingdom Labour Party is believed to be developing a proposal under which companies that seek an acquisition must show their bid is in the public interest and will enhance efficiency. The Labour Party has also proposed the formation of a competition office to be known as the Competion and Consumer Standards Office (CCSO), but this has been met with a negative response from investment bankers. The CCSO would incorporate the investigative departments of both the existing Office of Fair Trading and Monopolies and Mergers Commission. The CCSO would be introduced if the Labour Party came into power.
Publication Name: Mergers & Acquisitions International
Subject: Business, international
ISSN: 1066-3525
Year: 1995
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New Swiss law: a step in the right direction
Article Abstract:
Switzerland's inactive mergers and acquisitions market should be boosted by the country's new Federal Stock Exchange Law which comes into force in April 1996. The law will make it easier for foreign companies to make hostile bids for Swiss firms, with such activity virtually impossible prior to the change in legislation. The law is designed to make the financial markets in Switzerland more transparent. Parliament is also considering introducing a requirement that companies must give the Swiss Cartel Commission notice of their merger proposals, although Cartel approval may not be mandatory.
Publication Name: Mergers & Acquisitions International
Subject: Business, international
ISSN: 1066-3525
Year: 1995
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Dutch bourse proposes panel
Article Abstract:
The Amsterdam Stock Exchange in the Netherlands has proposed the creation of an independent takeover panel to consider cases of hostile acquisition bids. Companies seeking acquisitions would have to hold a stake of at least 70% in the target firm for 18 months or longer before seeking the approval of the panel for majority control. Some support the proposed amendments to the anti-takeover rules for listed firms, while others claim the proposals are inoperable. The Association of Securities Issuing Institutions and the Amsterdam bourse have agreed to the plan in principle.
Publication Name: Mergers & Acquisitions International
Subject: Business, international
ISSN: 1066-3525
Year: 1995
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