Takeover bids. The first alteration affects the provision linking trading law and the obligation to inform and consult the EWC. The first draft ordinance contained the provision applicable for French WCs. Thus, “The head of the Community-scale undertaking or group of undertakings making a public purchase offer on the capital of a company is not bound to consulting the European works council or the employee representatives within the framework of an information and consultation procedure before making the offer.” However, where the first document provided for a meeting within two business days “following the publication of the offer in view of providing written and specific information about the content of the offer and the consequences it might have in terms of employment,” the new draft ordinance provides that the meeting should take place “as soon as possible following the publication of the offer allowing for effective presence of the members.”
consultation procedure before making the offer.” However, where the first document provided for a meeting within two business days “following the publication of the offer in view of providing written and specific information about the content of the offer and the consequences it might have in terms of employment,” the new draft ordinance provides that the meeting should take place “as soon as possible following the publication of the offer allowing for effective presence of the members.”
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