1 / 9

The Takeovers Directive: All Other Lines, Good Service

Delve into European mergers and acquisitions with insights on economics, shareholder returns, and the impact of takeovers on industries. Explore the dynamics of regulatory control and market decisions post-takeovers directive.

pkendrick
Download Presentation

The Takeovers Directive: All Other Lines, Good Service

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. THE TAKEOVERS DIRECTIVE “ALL OTHER LINES, GOOD SERVICE…” Mike Edbury Department of Trade & Industry May 2006

  2. MAN ON THE CLAPHAM OMNIBUS • Squeeze-out and Sell-out • Wish to Own • Being British • Bid Documentation • Football Clubs

  3. THE THIRD ESTATE (PRESS) • France • Steel Companies • Economic Patriotism • Dawn Raiding • Eurocratic Nightmares

  4. MEMBER STATES • 20 May • The Detail • Board Neutrality • Breakthrough • Reciprocity

  5. THE THEORY • Creates Synergies • Premium to Shareholders • Discipline on Management • Efficient Allocation of Resources ….But Not All Takeovers Are A Good Thing

  6. ACTIVITY LEVELS • European Mergers and Acquisitions at an All Time High - $272 Billion in Last Year • 1993-2003 Foreign Direct Investment Increased 7 Fold in EU • Consumer Behaviour – Half of UK Customers have Switched Gas/Electricity Supply Since Liberalisation

  7. EMPRICAL EVIDENCE • Company Performance • Shareholder Returns • Management • Employment

  8. WILD CARDS • European Court of Justice • European Commission • What is nationality? • Third Countries

  9. ALL OTHER LINES, GOOD SERVICE… • Regulation Back in Hands of Regulators • Markets Making Decisions • Takeovers – Will Still Happen • Review!

More Related