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Introduction of the mandatory bid rule

On December 23 2005, the Dutch government sent a bill to parliament regarding the implementation in the Netherlands of the EU Directive on takeover bids (commonly known as the 13th Directive). Under the 13th Directive, the member states are required to adopt legislation forcing persons who acquire control of a listed company to make a full and fair offer to all holders of that company's shares. As such, the 13th Directive aims to protect the relevant company's minority shareholders.

March 31 2006

Why Hollywood turned to securitization

Studios are increasingly using securitization to help finance film production. Edward De Sear examines the challenges of putting together a new generation of deals

March 31 2006

Middle East

Catherine Moss, Clyde & Co Clyde & Co reacted to the growth of Middle Eastern capital markets by relocating equity specialist Catherine Moss to the firm's Dubai office. Moss has experience in IPOs, secondary listings and public and private takeovers, acting for corporates, brokers and investment banks. Moss's move to Dubai follows that of fellow partner Brian Nash and brings the total number of Clyde partners in the UAE to 11.

March 31 2006

Europe

David Childs was voted global managing partner of Clifford Chance. He will take over from Peter Cornell on May 1 on a four year term. Childs, the firm's global chief operating officer, was unanimously elected after no other partners stood against him. He is a corporate specialist who has been a partner at Clifford Chance since 1981. In another uncontested election, Mark Stewart was voted the next managing partner of the firm's London finance practice, also effective from May 1.

March 31 2006

Covered bonds

There has been mounting speculation in the Danish press that the government will finally introduce legislation to permit financial institutions to issue covered bonds.

March 31 2006

Implementation of the Takeover Directive

The current Finnish takeover regime with its unusually high threshold of two-thirds for mandatory bids has for a long time stood out as an exception from the takeover regimes of other European jurisdictions. In connection with the upcoming implementation of the EU Takeover Directive, Finland will lower the mandatory bid threshold and also otherwise modernize the current regime.

March 31 2006