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A hostile takeover bid can be sidestepped by selling securities on the market

December 2007 - Corporate & Commercial. Legal Developments by Bersay & Associés .

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Takeover bid on Compagnie Européenne de Casinos: a hostile takeover bid can be
sidestepped by selling securities on the market

For the first time, a takeover bid facing off two potential purchasers was resolved not by a transfer (apport) of the target’s securities to one of the protagonists but by their sale on the market.

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