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Der konkurrierende Bieter bei offentlichen Ubernahmeangeboten

Der konkurrierende Bieter bei offentlichen Ubernahmeangeboten

          
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About the Book

English summary: The offers of competing bidders are regarded as a defensive instrument against hostile takeovers. Markus Martin principally and thoroughly investigates the legal position of competing bidders in public takeover bids first by examining accounts of competition between multiple bidders of the pas and following with an overview of the regulatory framework in the German federal law that concerns securities acquisitions and takeovers. He examines the economic critique of competitive regulatory approaches and attempts to more precisely define the concept of competitive bidders. The author considers chronologically the various rules of conduct which are placed upon the competitive bidders within and outside of the provisions of federal law. In addition to questions concerning the necessity of due-diligence tests in the process of proposal selection, the author also deals with procedural rules in securities law. The focus of this work rests on the legal questions of competitive bidding itself, advancing a proposal of innovative reform. German description: Angebote konkurrierender Bieter gelten als "das" Instrument zur Abwehr feindlicher Ubernahmeangebote. Markus Martin analysiert erstmals und umfassend die Rechtsstellung des konkurrierenden Bieters bei offentlichen Ubernahmeangeboten. Ausgehend von der Darstellung der Bieterwettkampfe der Vergangenheit folgt ein Uberblick uber den Regelungsrahmen im Wertpapiererwerbs- und Ubernahmegesetz. Er untersucht die okonomische Kritik an einem konkurrenzfordernden Regelungsansatz und versucht, den Begriff des konkurrierenden Bieters naher zu definieren. Der Autor behandelt chronologisch die verschiedenen Verhaltensanforderungen, denen sich ein konkurrierender Bieter innerhalb und ausserhalb des WpUG zu stellen hat. Neben der Frage der Notwendigkeit einer Due Diligence-Prufung vor der Angebotsentscheidung finden dabei auch wertpapierhandelsrechtliche Verhaltensanforderungen Berucksichtigung. Der Schwerpunkt der Arbeit liegt auf den Rechtsfragen des Bieterwettkampfes selbst. Dazu werden innovative Reformvorschlage unterbreitet.


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Product Details
  • ISBN-13: 9783161533747
  • Publisher: Mohr Siebeck
  • Publisher Imprint: Mohr Siebeck
  • Height: 161 mm
  • No of Pages: 310
  • Series Title: Schriften Zum Unternehmens- Und Kapitalmarktrecht
  • Weight: 609 gr
  • ISBN-10: 3161533747
  • Publisher Date: 01 Mar 2015
  • Binding: Hardback
  • Language: German
  • Returnable: N
  • Spine Width: 0 mm
  • Width: 238 mm


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