Takeovers

Working Paper

Video

Presentation

This paper offers the first study of the shareholder welfare effects of poison pills and control share acquisition statutes in a research design that can support causal inference. We examine a series of four events between 2004 and 2010 that suddenly and exogenously changed the legality of poison pills and control share acquisition statutes for a peculiar class of company known as a closed-end fund. In the first two events, a court held for the first time that these defenses were legal under the Investment Company Act of 1940.

January 20 2018

Topic

Should the EU adopt a common takeover code?

A compromise solution to the long-awaited and hotly disputed Takeover Directive which aims to harmonise takeover regulations in the European Union, was after much delay (see news clippings below) finally presented by the European Commission on 2 October 2002.

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