Takeover bids network

Eddy WYMEERSCH, Chairman of CESR


At a meeting organised by CESR on 15 March 2007, representatives from the EU authorities on takeover bids met to discuss practical issues on the application of the Directive 2004/25 on Takeover bids (TOD).

At this meeting, the participants considered that a network between competent authorities on takeover bids should set up by CESR, with a view to discussing experiences and future developments.

The TOD covers two separate areas: company law aspects and securities or market related issues. However, as the authorities composing the network do not, in general, have powers in relation to company law issues, the object of the network is limited to securities or market related issues, with the aim of exchanging information and experience. This network will meet on an ad hoc basis.

The Takeover bids network is chaired by CESR's Chairman, Eddy Wymeersch. Its work is supported by Raquel Garcia, Senior Officer at the CESR secretariat.