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Cross-Border Mergers Directive and Its Impact in the UK

  • Jonathan MukwiriEmail author
Chapter
Part of the Studies in European Economic Law and Regulation book series (SEELR, volume 17)

Abstract

This paper assesses the impact of the Cross-border Mergers Directive in the UK. It finds that merger cases between 2007 (when the Directive was implemented in the UK) and 2017 reveal a constructive facilitation of cross-border mergers in the UK. It finds that courts have applied the Directive in a way that gives effect to freedom of establishment. Despite the facilitation of cross-border mergers, it finds that schemes of arrangement, and takeovers, are still more popular than cross-border mergers. It argues that the impact of the Cross-border Mergers Directive in the UK is due to the Directive providing a forum shopping opportunity for non-UK companies to use the service of the UK court to restructure their companies using the continental-type mergers. It argues that if or when the Cross-border Mergers Directive ceases to apply in the UK post-Brexit, the vacuum of cross-border mergers may lead to more takeovers in the UK and EEA companies using the English schemes of arrangement.

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  1. 1.Durham Law School, Durham UniversityDurhamUK

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