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 Award | 2 Sept 2020 |
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Original language | Portuguese |
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Awarding Institution | - Universidade Católica Portuguesa
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Supervisor | José Engrácia Antunes (Supervisor) |
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- Takeover bid
- Defensive conduct
- Board of directors
- Non-frustration rule
A conduta da administração da sociedade visada por OPA: a regra de não frustração
Perdigoto, C. I. D. C. B. (Student). 2 Sept 2020
Student thesis: Master's Thesis