The opportunities available for averting a takeover have been restricted by the Company Takeovers Act (Wertpapierübernahmegesetz), but not entirely removed.

The dividing line between the illegal prevention of a takeover and such measures as are permissible is a fine one and should not be approached without legal advice.

So-called change-of-control provisos can enable a target company to agree with a third party that, should a takeover happen, the latter will enjoy particular legal positions.



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