Oxford Business Law Blog

Most public bids in the UK market are implemented by scheme of arrangement. When it becomes effective, a scheme of arrangement results in the transfer of all of the shares of the target to the bidder...

A vast literature studies the role of institutions, such as regulation, for economic outcomes. An implicit assumption in many theoretical and empirical studies in the field is that the law is...

Judges, legislators, corporate practitioners, and scholars of business law all conduct their work based on some working conception of what “corporate law” is. Strangely, however, the question of what...

Takeover regimes in Europe have been under persistent scrutiny by the public, politicians, and market participants. Sometimes, that is just the nature of the game: Takeovers create winners and losers...

The Mandatory Bid Rule (MBR) forms an important part of the EU Directive (2004/25) on Takeover Bids. The MBR is generally seen as a benign protection of investors in listed companies. The Directive...

On 19 September 2017, the UK Takeover Panel published Panel Consultation Paper 2017/2 (the PCP), which proposed amendments to the rules of the UK Takeover Code. The PCP set out the Panel’s proposals...

In a decision of 20 July 2017 in the case Marco Tronchetti Provera SpA e.a. v Consob, the European Court of Justice ruled for the first time on the interpretation of article 5(4) of the Takeover...