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ARTICLE · 20 JULY 2001

234. Germany Prepares Corporate Takeover Law

KPMG Germany
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GermanyCorporate/Commercial Law
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1. Draft Legislation In Preparation

Spurred by what many regarded as an unseemly tussle in connection with the ultimately successful bid of Vodafone AirTouch for Mannesmann in 1999/2000, Germany appointed a commission of experts in February 2000 to make recommendations for a law regulating corporate takeovers. The commission, whose members included Germany's Chancellor Gerhard Schröder and management consultant Roland Berger, published recommendations in May 2000, which were followed by draft legislation (the so-called "discussion draft") issued by the Federal Ministry of Finance on 29 June 2000.

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