Overview

The societal benefits of takeovers - in the form of enhanced competition and productivity - have been well documented. Moreover, many scholars believe that the very possibility of a hostile takeover urges incumbent management to be more productive, thus ultimately enhancing shareholder welfare. Starting from such premises as these, Dr Forstinger offers an in-depth comparative analysis of takeover law as it exists in the United States and as it is currently developing in Europe. The latter emphasizes the failed takeover directive of 2001, as its content is already determining new proposals currently in preparation. Among the salient topics that arise in the course of the discussion are the following: the conflicting interests of the various stakeholders-shareholders, managers, employees, creditors, governments, ""raiders"", and others; the state competition question from the US perspective and the prospects of a market for incorporations in the EU; the tension between harmonization and regulatory competition in context with takeover laws; and the focus on current takeover regulation in the UK, Germany and Austria. The study concludes with recommendations for reflexive harmonization of takeover law in the European Union responding to the complex needs of the diverse corporate law systems of the member states. All company lawyers and corresponding regulators - especially but not exclusively in Europe - should appreciate the clear scholarship and thought that are apparent in this book.

Full Product Details

Author:   Christin M. Forstinger
Publisher:   Kluwer Law International
Imprint:   Kluwer Law International
Edition:   3rd New edition
Volume:   v. 41
Dimensions:   Width: 16.60cm , Height: 1.70cm , Length: 23.00cm
Weight:   0.476kg
ISBN:  

9789041119193

ISBN 10:   9041119191
Pages:   200
Publication Date:   01 September 2002
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Hardback
Publisher's Status:   Active
Availability:   Out of stock  
The supplier is temporarily out of stock of this item. It will be ordered for you on backorder and shipped when it becomes available.

Table of Contents

I. Introduction. A. Harmonization and Regulatory Competition. B. The Research Questions. C. Terminology. D. Are Takeovers Beneficial for the Society? E. The Interest in an Efficient Capital Market. II. Stakeholders in Companies and their Interests in Takeovers. III. U.S. and European Company Law and the Harmonization Program of the European Union. A. U.S. Company Law. B. European Company Law and the Harmonization Program of the EU. IV. The State Competition Question. A. The State Competition Question from the United States Experience. V. Takeover Law under State Competition. A. Introduction. B. Takeover Laws from the U.S. Perspective. C. Takeover Laws from the European Perspective. D. Takeover Law under State Competition. VI. Regulatory Competition versus Harmonization in European Takeover Law: What the Appropriate Way May Look Like. A. Some Observations on Current Issues of EU Company Law as Precondition for Examining European Takeover Regulation. B. EU Takeover Law and the Tension between Harmonization and Regulatory Competition. C. The Appropriate Way of Regulating EU Takeover Law. VII. Conclusion. References. U.S. Cases. Cases of the European Court of Justice. Index.

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