Securities Law
EU Court Strikes Down German Anti-Takeover Law
The European Court of Justice has struck down a German law shielding Volkswagen from a hostile takeover.
The New York Times calls the decision a “stinging setback” for the German government, which fears foreign investment in key industries. It is also like to spur European Union efforts to stop other countries from protecting companies from takeover, the Wall Street Journal reports (sub. req.).
The ruling clears the way for Porsche to increase its current 31 percent stake in Volkswagen.
