Rome partner Fabio Fauceglia was featured in the April issue of TopLegal, the leading business lawyers magazine in Italy. In a full-page story titled "Tender Offers, New Rules May Curb Hostile Offers," Fauceglia commented on the recent amendments to the Italian tender offers rules and on the issues concerning separation of ownership and control of listed companies. "The new rules," Fauceglia pointed out, "by limiting the passivity rule and the breakthrough rule, now allow the board to adopt defensive measures against a hostile tender offer without the need of prior approval by the shareholders." He concluded, "The issue with these new rules is to assess whether such restrictions to the contestability of a listed company will ultimately create value for the companies and their stakeholders."

Click here to view article, Tender Offers, New Rules May Curb Hostile Offers (in Italian)