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New public bid rules in the Netherlands
The Dutch Act implementing the EC Directive on public bids, including the related Decree on Public Takeover Bids, has entered into force on 28 October 2007. This new legislation provides for a mandatory offer in the interest of minority shareholders in Dutch listed companies.
In case a shareholder has acquired 30 % or more of the voting rights in a listed company, such shareholder has the obligation to make a bid for the company.
The new legislation also sets out the conditions under which a listed company may decide to protect itself from hostile bids or to refrain from any protective measures in case of a public bid. In addition, the legislation provides for a modernisation of the public offer rules.
In the attached memorandum you will find the key aspects of the new public bid rules.
For more information, please contact Guus Kemperink or Harm Uittien,
Corporate Practice.
Read memorandum 'New rules on public bids in the Netherlands'
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