Browsing Law by Subjects
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A critique of shareholder primacy under UK takeover law and the continued imposition of the Board Neutrality RulePurpose – The purpose of this paper is to determine whether the Board Neutrality Rule and the primacy afforded to shareholders during takeovers is justified under common law and policy. Design/methodology/approach – The paper provides a detailed assessment of the role play by the board neutrality rule and whether this is supported by takeover law and Company law. A review of case law and statutes is provided. The paper is largely analytical. Findings – The paper finds little justification for the continued imposition of the Board Neutrality Rule. Originality/value – The paper adds to the growing body of research literature which has analysed the role played by the Board Neutrality Rule during takeovers.
Shareholder primacy and stakeholders’ interests in the aftermath of a takeover: a review of empirical evidenceSince the takeover of Cadbury Plc in 2010, there has been increased academic attention on investor short-termism during takeovers and whether the continued imposition of the board neutrality rule has made it easy to acquire UK companies. This paper contributes to this growing body of research by examining existing empirical studies to determine whether concerns over short-termism and the continued imposition of the board neutrality rule are justified.