discusses the rise of takeovers and takeover defences in the United States. Against this backdrop, it examines recent … European Takeover Bid Directive, which Professor Hopt has described as “sobering”, in view of the large number of members … continued in discussion of takeovers and takeover defences in relation to two major Asian economies, Japan and China. As the …

contribution is to show who actually has power in a takeover and what factors are at work to give such power. Although directors … are traditionally considered to be in charge in deciding the outcome of a hostile takeover of a Delaware corporation … lack the power to determine the outcome of a takeover bid, the reason for that is not embedded in the takeover regime …

options of the target CEO immediately vest and become unrestricted upon the close of the acquisition. We find that takeover …