A conduta da administração da sociedade visada por OPA
: a regra de não frustração

  • Catarina Isabel de Castilho Brêda Perdigoto (Student)

Student thesis: Master's Thesis


The aim of this paper is to explore the conduct of the Board of Directors facing a takeover bid, with a focus on the defensive response towards the takeover, and the different shapes this defence can assume. Thereunder, we will investigate the non-frustration rule, its provision under Portuguese law and Directive 2004/25/EC on takeover bids, as well as the rationale for the importance of this rule in the maintenance of the market for corporate control.
Date of Award2 Sept 2020
Original languagePortuguese
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorJosé Engrácia Antunes (Supervisor)


  • Takeover bid
  • Defensive conduct
  • Board of directors
  • Non-frustration rule


  • Mestrado em Direito

Cite this