Press Release: Company Law: Commission welcomes experts’ report on takeovers

European Commissioner Frits Bolkestein welcomed on 10 January 2002 a major report by leading company law experts on issues related to takeover bids. The report, by a high level group set up by the Commission, specifically addresses the issues which the European Parliament had asked the Commission to examine during negotiations over the Commission's previous proposal for a Takeover Bids Directive. Those negotiations broke down in July when the Parliament plenary, after conciliation, failed to muster a majority for the compromise reached by Parliament representatives during final talks with the Council of Ministers.