Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-12-12-Speech-2-303"
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"en.20001212.14.2-303"2
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"Mr President, I should like to assure Mrs Wallis that I shall vote for her Amendment No 19 for the very reasons which she has given – and I hope my group will be following me. This is a matter on which clarity is of the utmost importance. Similarly we will reject the critical part of Amendment No 17, which would exclude shareholders from deciding on the merits of a bid for a company that they own. The ground for this is that it is not for governments, supervisory authorities or incumbent management to accept or frustrate a bid. It rests with the company's owners – the shareholders themselves.
That is the principle on which perhaps we will divide tomorrow: what should be the over-riding concern of a law regulating takeovers. If you think that the correct thing is fairness and transparency towards all shareholders – majority and minority alike – then that determines your vote on a number of the issues here.
There are some points where I would be happy to go along with the compromise amendments, particularly those affecting the position of employees. I understand Mr Lehne's desire to get the thing taken into conciliation and further clarified. I have some sympathy with his point. But we must approach this with the governing principle of shareholder protection in our minds."@en1
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