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Financial tunnelling and the mandatory bid rule

Grant, Jeremy, Kirchmaier, Thomas and Kirshner, Jodie A. (2009) Financial tunnelling and the mandatory bid rule. European Business Organization Law Review, 10 (2). pp. 233-253. ISSN 1566-7529

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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.

Item Type: Article
Official URL: http://journals.cambridge.org/action/displayJourna...
Additional Information: © 2009 T.M.C. Asser Press and the Authors
Library of Congress subject classification: H Social Sciences > HG Finance
Sets: Research centres and groups > Financial Markets Group (FMG)
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 16 Nov 2009 16:20
URL: http://eprints.lse.ac.uk/25770/

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