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Germany surprised the European legal community by announcing on 27 April that it would no longer support and be part of the common position on takeover rules that was adopted by the EU member states on 19 June, 2000. This was unexpected, especially as Germany had passed a revised draft for the German Takeover Act on 12 March which, so Germany had claimed, incorporated many of the features of the common position. Under Germany’s presidency of the EU Council, significant progress had also been made towards the resolution of the planned 13th EU directive on takeovers.

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