Common Legal Framework for Takeover Bids in Europe by Dirk Van Gerven

Author:Dirk Van Gerven
Language: eng
Format: epub
Publisher: Cambridge University Press
Published: 2010-01-03T05:00:00+00:00

Exemptions

25.19 The Takeover Directive grants the supervisory authorities of the Member States the power to derogate in their national rules from the rules provided in the Takeover Directive, provided that the general principles found in Article 3(1) are respected. In view of the characteristics of the Maltese capital markets and the shareholding structure of listed companies registered in Malta, the Listing Authority is given the power to grant exemptions from the obligation to make a mandatory bid (Listing Rule 18.21) where: (i) control of the offeree company4 is obtained as a result of the reduction of the offeree company's share capital;

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