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Financial tunnelling and the mandatory bid rule

Grant, Jeremy, Kirchmaier, Thomas ORCID: 0000-0002-8938-2206 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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Identification Number: 10.1017/S156675290900233X


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
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Additional Information: © 2009 T.M.C. Asser Press and the Authors
Divisions: Financial Markets Group
Subjects: H Social Sciences > HG Finance
Date Deposited: 16 Nov 2009 16:20
Last Modified: 20 Oct 2021 01:46

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