Public Takeovers In Germany

Author:Hogan Lovells
Profession:Hogan Lovells

Our “Public Takeovers in Germany” newsletter provides an overview of public takeovers carried out in Germany in 2019 under the German Securities Acquisition and Takeover Act (WpÜG) and of recent developments in German public takeover law. As a global law firm, we are constantly observing the M&A markets in Germany and abroad. We would like to share our insights with you in this newsletter.

The main part of this newsletter presents a statistical overview of the public takeovers executed in Germany in 2019 under the WpÜG. This overview is based on the database of German takeover bids published by the German Federal Financial Supervisory Authority (BaFin). In addition, we have analyzed the management statements published by the management boards and supervisory boards of the target companies. Wherever a public offer was amended, our analysis reflects only the data from the final version of the offer, unless indicated otherwise.

In the “Profile” section we showcase in more detail what we consider the most noteworthy public takeover bid of the past calendar year in Germany. In 2019, this undoubtedly was the takeover battle over OSRAM Licht AG.

Finally, we discuss the...

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