13 of the draft directive of the company, originally written in 1980 and first officially proposed in 1990, was designed to harmonize the laws of the capture of the European Union (EU). From the beginning, however, the bill was controversial. Nations with no history of corporate takeovers, such as Germany, are concerned that the legislation would violate the social contract between labor and management. Nations are more familiar with acquisitions, such as Great Britain, fearing that the directive would upset their established system of regulation. EU officials, thus, had to work out a balance between these competing interests to achieve the absorption of European policy. This task proved to be extremely difficult - so difficult, in fact, that after nearly two decades after the first proposed EU Takeover Directive has not yet been passed into law. This case should be trying to get a law with its approval of EU ministers in June 1999 to its ultimate failure, to a large extent in the hands of Germany, in July 2001. A copy of the directive also included. "Hide
by Guhan Subramanian, Michelle Kalka Source: Harvard Business School 14 pages. Publication Date: October 26, 2001. Prod. #: 902066-PDF-ENG
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