THIRD COMPANY LAW DIRECTIVE AND SIXTH
COMPANY LAW DIRECTIVE: REQUIREMENT FOR INDEPENDENT EXPERT ADVICE
(7207/07)
Letter from the Chairman to Rt Hon Ian
McCartney MP, Minister for Trade, Investment and Foreign Affairs,
Department of Trade and Industry/Foreign and Commonwealth Office
This proposal was examined by Sub-Committee
E at its meeting on 25 April. The proposal should have a helpful
deregulatory effect by removing the need for a potentially costly
expert's report on the terms of the merger where all the shareholders
agree to dispense with this requirement. The change is, as you
say, more likely to benefit companies of other Member States where
mergers and divisions are a more commonplace form of company restructuring.
We too welcome the Commission's proposal.
The Committee decided to clear the proposal
from scrutiny. We would be grateful to be kept informed of developments.
26 April 2007
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