The regime of the Takeover Directive - status quo and possible reforms - from the perspective of sustainable development of companies

The topic of the project is the legal analysis of the regime of the European Takeover Directive (Directive 2004/25/EC of the European Parliament and the Council of 21 April 2004 on takeover bids) in the perspective of sustainable development, involving re search in two pivotal areas of EU law: (1) The overarching objective and fundamental principle of sustainable development as set out in Article 3 of the Treaty on European Union (TEU) and Article 11 in the Treaty on the Functioning of the European Union (TFEU), respectively. (2) European harmonisation in the area of regulatory conditions for takeovers and corporate restructuring within the Union. The project shall firstly critically assess the Takeover Directive's objectives and their achievement, and the actual impact the Takeover Directive regime has had on the economy, internal market, market players and participants, and secondly whether and how the Takeover Directive regime responds to and reflects the Union's overarching goal of sustainable deve lopment. The topic of the project encompasses a legal analysis and critical assessment of the Takeover Directive's rules and objectives as such, the Takeover Directive's transposition in selected MS, and a comparative perspective, focussing on the equival ent regulation in the USA.