Financial tunnelling and the mandatory bid rule

Jeremy Grant; Tom Kirchmaier; Jodie A. Kirshner

doi:10.1017/S156675290900233X

Financial tunnelling and the mandatory bid rule

Jeremy Grant, Tom Kirchmaier, Jodie A. Kirshner

IMP Business Economics

Research output: Contribution to journal › Article › peer-review

Abstract

In this paper, we use case studies to document how dominant shareholders have circumvented mandatory bid rules to appropriate wealth from minority shareholders. Dominant shareholders are numerous in Continental Europe. Creative compliance with mandatory bid rules reveals the failure of boards and regulators to protect minority shareholders and the difficulties of legislating in this area. We propose enhanced means for protecting their interests. © 2009 T.M.C.ASSER PRESS.

Original language	English
Pages (from-to)	233-253
Number of pages	20
Journal	European Business Organization Law Review
Volume	10
Issue number	2
DOIs	https://doi.org/10.1017/S156675290900233X
Publication status	Published - Jun 2009

Keywords

Mandatory bid rule
Sprivate benefits of control (PBCs)
Takeover
Tunnelling

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10.1017/S156675290900233X

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Financial tunnelling and the mandatory bid rule

Abstract

Keywords

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