Hard times are afoot for the economy. Disrupted supply chains, falling demand, negative sentiment among investors and consumers alike – all this may drag on financial results and on valuation of a company, which may become a tempting target for a take-over bid. Of course, hostile take-overs are not a new phenomenon, and there will always be a politician or a journalist who raises the issue of an investor’s nationality. And there is the eternal dilemma of whether hostile take-overs should be prohibited altogether, or whether such transactions should be allowed to go ahead while taking care to retain a golden share – a final say on strategic matters which, typically, enables the golden share’s holder to block any moves which he considers unfavourable.

 

The full text of this article is available (in Polish) in Dziennik Gazeta Prawna (7.05.2020 r.). If you are interested in an English-language version, please contact: kontakt@gessel.pl