Local view for "http://purl.org/linkedpolitics/eu/plenary/2003-12-16-Speech-2-108"
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"en.20031216.3.2-108"2
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".
On 4 July 2001, I took part in the Conciliation Committee meeting on this matter, at which the agreement between the EP and the Council was blocked. At the time, the issue at stake was that of forcing the management boards of companies subject to a takeover bid to refrain from adopting defensive measures against the offer or company.
Today, the European Parliament has basically adopted a set of rules in this field which mean that Member States and companies will have the option – but not the obligation – to make these defensive measures illegal unless they have been formally approved at a general shareholders meeting.
This new wording, designed to protect minority shareholders in the event of a takeover bid and which unblocks this issue, which is of importance to company law and to international economic and financial life, leads me to consider that this report warrants my favourable vote."@en1
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