Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-04-Speech-3-117"
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"en.20010704.3.3-117"2
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The Parliament and Council Directive on the subject of company law concerning takeover bids is designed to harmonise Member State legislation in cases where companies governed by the law of one Member State are subject to a takeover bid, with their assets, i.e. property and shares, admitted to trading on a regulated market. The main purpose of the directive is to protect the interests of minority shareholders, and, by means of harmonisation, to protect these interests when the takeover bid is of a cross-border nature. By defining a principle for the equal treatment of all shareholders, the directive therefore seeks to establish minimum conditions for all shareholders to state their views and to study the terms of any bid made. At the same time, it seeks to ensure, by means of regulations on making the bid and time limits on the acceptance period, that the company remains operational during this period.
I therefore give my full support to the agreement that has been reached and, consequently, to the joint project, adopted by the Conciliation Committee, for a European Parliament and Council directive on takeover bids, which thereby seeks to create a set of harmonised rules that will add rigour to the process and ensure equal protection for all shareholders."@en1
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