ECJ rules discriminatory golden shares unlawful, bolstering takeover code relaunch attempt
June 12, 2002 at 08:03 PM
1 minute read
The original version of this story was published on Legalweek
Hopes of a revival of the long-delayed common European Union (EU) takeover code and an upturn in regional M&A activity were raised last week after a key ruling by the European Court of Justice (ECJ).
In a trio of test cases regarding three countries the ECJ ruled the use of discriminatory “golden shares” for economic reasons was unlawful.
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