Original scientific paper
https://doi.org/10.25234/pv/22024
POSITION OF WORKERS IN CORPORATE TAKEOVERS
Antonija Zubović
orcid.org/0000-0001-8238-3495
; PhD, Associate Professor, Faculty of Law, University of Rijeka, Hahlić 6, 51000 Rijeka, Republic of Croatia
Abstract
A takeover bid is one of the main methods of acquiring voting control in a listed company. By acquiring the voting control, the majority shareholder gains the power to influence or deter- mine corporate decisions, which can significantly affect not only the position of the sharehol- ders, but also the position of a much wider circle of stakeholders. It is not to be disputed that takeovers significantly affect workers’ positions; therefore the paper analyses the regulatory framework governing the position of workers in takeover procedures in European and Croa- tian law. The analysed solutions are compared with the solutions adopted in Slovenian and French law. While Slovenian legislation has adopted solutions that are very similar to Croa- tian, the French legislator has given greater rights to workers both in the takeover procedure and in the post-bid period. The paper also presents the results of a survey conducted on the Croatian capital market on the use of workers’ rights granted to them by the Croatian Takeo- ver Act. It is concluded that workers exercise these rights, but to an insufficient extent.
Keywords
takeovers; takeover bid; position of workers; workers’ rights; Takeover Bids Directive; Croatian Takeover Act
Hrčak ID:
293354
URI
Publication date:
31.12.2022.
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