Original scientific paper
https://doi.org/10.31141/zrpfs.2023.60.147.93
Acting in Concert in Takeover Law
Antun Bilić
; University of Zagreb, Faculty of Law
Abstract
There is an obvious discrepancy between the importance of acting in concert in takeover law and
the quality of its regulation in the provisions of the Act on the Takeover of Joint-Stock Companies.
The problems begin already with the very definition of acting in concert and they are aggravated
through numerous presumptions which, in themselves, do not even indicate acting in concert, much
less shift the burden of proof on the acquirers. Probably the most important problem is that the acting
in concert is so far-reaching that it discourages desirable shareholder activism, such as debating and
cooperating in relation to the individual resolutions of the general meeting. Aside from the criticism,
the paper suggests specific improvements, which require an entirely new legislative framework.
Keywords
acting in concert; control; coordinated voting; presumptions; exceptions
Hrčak ID:
296632
URI
Publication date:
28.3.2023.
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