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Document 32004L0025
Company takeover bids
Company takeover bids
SUMMARY OF:
Directive 2004/25/EC on takeover bids
WHAT IS THE AIM OF THE DIRECTIVE?
It lays down measures to coordinate EU countries’ laws, regulations, administrative rules, codes of practice and other arrangements for takeover bids*.
KEY POINTS
FROM WHEN DOES THE DIRECTIVE APPLY?
It has applied since 20 May 2004. EU countries had to incorporate it into national law by 20 May 2006.
* KEY TERMS
Takeover bid: a public offer to acquire all or part of the securities of a company.
Securities: transferable shares which give the owner voting rights in a company.
Offeree company: a company subject to a bid.
MAIN DOCUMENT
European Parliament and Council Directive 2004/25/EC of 21 April 2004 on takeover bids (OJ L 142, 30.4.2004, pp. 12–23)
Successive amendments to Directive 2004/25/EC have been incorporated into the original text. This consolidated version is of documentary value only.
last update 16.11.2016