Financial Tunnelling and the Mandatory Bid Rule

Jeremy Grant, Tom Kirchmaier, Jodie A. Kirshner

Publikation: Bidrag til tidsskriftTidsskriftartikel

Abstrakt

In this paper, we use case studies to document how dominant shareholders have circumvented mandatory bid rules to appropriate wealth from minority shareholders. Dominant shareholders are numerous in Continental Europe. Creative compliance with mandatory bid rules reveals the failure of boards and regulators to protect minority shareholders and the difficulties of legislating in this area. We propose enhanced means for protecting their interests.
OriginalsprogEngelsk
TidsskriftEuropean Business Organization Law Review
Vol/bind10
Udgave nummer2
Sider (fra-til)233-253
ISSN1566-7529
DOI
StatusUdgivet - 2009
Udgivet eksterntJa

Emneord

  • Private Benefits of Control (PBCs)
  • Mandatory bid rule
  • Takeover
  • Tunnelling

Citationsformater