The implementation of the Takeover Directive in the UK has resulted in ending the so-called self-regulation of takeovers. This change of regulatory framework was always feared for having the potential to create a culture of tactical litigation that would be detrimental to takeovers. In this article, these fears are assessed against the measures that prevailed at common law before the implementation of the Directive and against the measures in the Directive as implemented by the Companies Act 2006. This article concludes that it is unlikely that the implementation of the Directive will cause a litigation culture to arise in the regulation of UK takeovers.
Document Type: Research Article
Publication date: October 1, 2008
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The Journal of Corporate Law Studies provides a forum for scholarship on corporate, securities and financial law broadly construed. Thus the Journal publishes articles on subjects as diverse as insolvency and the commercial conflict of laws, in addition to mainstream topics such as directors' duties and financial regulation. The Journal also embraces interdisciplinary work and work in cognate fields.Articles published in the Journal are subject to rigorous peer review. Shorter articles and notes are refereed where appropriate. The Journal is published twice a year in June and October. The journal will be of interest to academics and practitioners specialising in any of the subjects covered, and also to those with an interest in the strategic direction of the law and the influences which affect it - thus regulators, law and policy-makers, and the judiciary.