- European takeover directive •
- break-through rule •
- reciprocity in takeovers •
- ownership structure •
- takeover defenses •
- voting rights •
- contestability of corporate control
The European Commission has proposed a Takeover Directive that aims to make the control of European corporations more contestable. The European Parliament and Germany will not adopt the Directive unless it provides for reciprocity in takeovers, limiting access to the articles of contestability to bidders that have adopted contestability themselves. Reciprocity in takeovers is not desirable.