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29.06.2001

Reject the conciliation result of the takeover-directive

Not in accordance with positions of the European Parliament

The EUCDW together with the workers group within the EPP/ED-group in the European Parliament supports the position of reporter Klaus-Heiner Lehne MEP to reject the conciliation result of the directive on company law concerning take-over bids

Firstly we state, that there it is contrary to the decision of the Parliament concerning this directive. Secondly it is contradictory to the legislative decisions of the EP on information and consultation of employees in companies and firms (European Works Council and European Company Statute). The conciliation proposal for the directive on take-over bids foresees that employee representatives should only be informed after the result of the take-over bid is known, and not before.

It would be unacceptable for us to have grave legal uncertainty for workers in companies dealing with take-over bids.

Furthermore it remains important for us, to strengthen the defence possibilities for companies against so-called "hostile take-overs". Also in this point, the basis offered by the conciliation proposal is not sufficient.

The European Peoples Party cannot do else than to demand a better proposal for a directive, which respects the positions of the European Parliament.

The European Union of Christian Democratic Workers (EUCDW) consists of 23 workers' organisations from 15 countries and is an association of the European People's Party (EPP).

responsible: Luc Delanghe, President.

EUCDW
European Union of Christian Democratic Workers
c/o EPP, Rue du Commerce / Handelsstraat 10
B-1000 Brussels

E-mail: EUCDW

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