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Spain Approves New Takeover Regulations

Law360 (July 27, 2007, 12:00 AM EDT) -- The Spanish government has given the green light to a new competition law governing takeovers, approving a regulation that will give an advantage to the first bidder in a competitive bidding process.

The government said on Friday that the Cabinet of Ministers had approved the new law, which in addition to allowing the first bidder certain advantages, will restrict the tactics companies may use to thwart hostile takeovers.

The new regulations will apply to deals that have been approved by Spain's market regulator after the law...
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