E.C. merger rules remain snarled; the goal of 'one-stop shopping' has not been realized
Article Abstract:
The European Commission has decided not to review the 'community dimension' thresholds in the EC Merger Regulation at the end of 1993, leaving in place the status quo which makes most mergers subject to Balkanized review by many different national agencies. When mergers must be reviewed by many different states, costs will go up and a deal's timing may suffer. The Commission's decision can be ascribed to British, French and German opposition to expanded EC authority over merger review and to a generalized malaise at the prospect of greater centralized authority in Brussels.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1993
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Changes in Exon-Florio affect foreign buyouts
Article Abstract:
The Byrd-Exon Amendment amending the Exon-Florio law was signed into law on Oct 23, 1992. The Exon-Florio Law gave the president the power to investigate and enjoin foreign acquisitions of American businesses if these might adversely impact national security. The amendment reflected congressional dissatisfaction with the president's record, makes standards triggering investigations more lenient, and specifies how an acquisition would affect US leadership in technology to the factors to be considered in assessing national security impact.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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The recent acquisition of the U.S. Shoe Corp. by an Italian company may prompt other foreign bidders to wage takeover battles in American courts
Article Abstract:
Luxottica Group's successful acquisition of US Shoe Corp for $1.12 billion contains several lessons. Undeterred by two Ohio laws, measures in US Shoe's charter, and a poison pill, Luxottica moved aggressively to apply pressure to US Shoe's board of directors, forcing them to agree to a friendly takeover. Luxottica proved its ability to work through US courts, indicating the courts cannot be considered partisan allies by US companies. Counsel designing defenses should consider how an aggressor could pressure the board.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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- Abstracts: Public sector on the wane. Shopping for a better world
- Abstracts: Where is the real conflict of interest? Examining underlying issues in client relationships. Dangerous liaisons: survey: most disapprove of lawyer-client sex
- Abstracts: Some acquirers prefer to structure deals so as to apply the pooling-of-interest accounting method, not the 'purchase' method, to post-transaction companies