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Date: Fri, 24 May 2013 14:11:47 +0200

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Quote:

SSRN Author: Ronald J. Gilson
REVISION: The Case for an Unbiased Takeover Law (with an Application to the European Union)
http://www.ssrn.com/abstract=2258926

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Text:

Takeover regulation should neither hamper nor promote takeovers, but instead allow individual companies to decide the contestability of their control. Based on this premise, we advocate a takeover law exclusively made of default and menu rules supporting an effective choice of the takeover regime at the company level. For reasons of political economy bearing on the reform process, we argue that different default rules should apply to newly public companies and companies that are already public w

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