EU Considers Golden Share Legislation

Law360, New York (July 26, 2007, 12:00 AM EDT) -- In response to recent concerns about cross-border takeovers, the European Commission will consider new legislation on allowing member state governments to step in and block takeovers if they determine national interest will be threatened by the deal.

A Commission spokesperson said that regulators would consider modifications to the European Union's “golden share” rules, which give governments the right to intervene in certain companies. Regulators will come to a conclusion after the summer recess.

The Commission's renewed interest in golden shares comes as the result of a...
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