Linklaters & Alliance, one of Europe's top mergers and acquisitions law firms, has joined the voices warning that the European Union's proposed takeover legislation could remove power from shareholders.
Richard Godden, head of the firm's investment bank practice group and former secretary to the UK's Panel on Takeovers and Mergers, said: "The amendments coming before the EU Parliament will make transatlantic activity more difficult and therefore more costly and time consuming. It will put the takeover process at the mercy of complex and inconsistent regulations that could scuttle takeover attempts, no matter what the desire of shareholders of the target businesses."
