E.U. Takeover Rules May Get Makeover

Law360, New York (February 1, 2007, 12:00 AM EST) -- Less than a year after the European Union ushered in new laws governing cross-border mergers, Internal Market Commissioner Charlie McCreevy has said the regulations may need to be revamped.

Under the current rules, which have been watered down by national governments in a bid to roadblock cross-border takeovers, the E.U.'s 27 member states have the option to allow various types of corporate defenses.

But the rules, which went into effect last May, are “not very useful” and represent a step “backwards,” Dow Jones reported, citing McCreevy’s...
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