White knights and black knights. Does the search for competitive bids always benefit the shareholders of “target” companies?
(2006)
Journal Article
Mucciarelli, F. (2006). White knights and black knights. Does the search for competitive bids always benefit the shareholders of “target” companies?. European Company and Financial Law Review, 3(4), 408-425. https://doi.org/10.1515/ECFR.2006.018
According to the EC Directive on Takeover Bids, defensive measures should be authorised by the general meeting of the target company. The incumbent board can, nonetheless, search for a competing bid, a so-called “white knight”. The rationale underpin... Read More about White knights and black knights. Does the search for competitive bids always benefit the shareholders of “target” companies?.