We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.
from Part II - Application in each Member State National reports for the EU Member States
Published online by Cambridge University Press: 11 May 2010
Introduction
The Takeover Directive was implemented in Denmark in two steps. The first step was taken in 2005 when Denmark implemented part of the Takeover Directive by Act no. 604/2005, amending the Danish Public Companies Act (aktieselskabsloven), the Danish Financial Statements Act (årsregnskabsloven) and the Danish Securities Trading Act (værdipapirhandelsloven). In connection thereto, the Danish Financial Supervisory Authority (‘FSA’) issued an amended Executive Order on Takeover Bids (Executive Order no. 618/2005).
Executive Order no. 618/2005, made some amendments to the existing Executive Order on Takeover Bids (Executive Order no. 827/1999), although a number of important proposed amendments – which were included in the FSA's draft consultation paper for the executive order – were left out of the final version.
Instead, the FSA decided in 2005, as its second step, to appoint a working group which – after consultation with non-governmental organisations – was to draw up proposed amendments to the regulation in Executive Order no. 618/2005 for the purpose of implementing the Takeover Directive fully in Danish law. Based on the discussions in the working group, the FSA issued a draft consultation paper for a new Executive Order on Takeover Bids on 16 March 2006. This draft was adopted subject to a few amendments and implemented as Executive Order no. 416/2006, which was deemed finally to implement the Takeover Directive in Danish law.
Brief history
The Danish regulation before the Takeover Directive
The first Danish rule on mandatory bids was introduced in the Code of Ethics of the Copenhagen Stock Exchange of 1 March 1979.
To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.
Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.
Find out more about the Kindle Personal Document Service.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.
To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.
