- Query in any language with multilingual search
- Access EUR-Lex and EU Commission case law
- See relevant paragraphs highlighted instantly
Similar Documents
Explore similar documents to your case.We Found Similar Cases for You
Joined Cases C-655/16 and C-656/16: Order of the Court (Eighth Chamber) of 24 October 2017 (requests for a preliminary ruling from the Tribunale Amministrativo Regionale per il Lazio — Italy) — Hitachi Rail Italy Investments Srl (C-655/16), Finmeccanica SpA (C-656/16) v Commissione Nazionale per le Società e la Borsa (Consob) (Reference for a preliminary ruling — Article 99 of the Rules of Procedure of the Court of Justice — Company law — Directive 2004/25/EC — Takeover bids — Second subparagraph of Article 5(4) — Possibility of changing the price of the offer in specific circumstances and in line with clearly determined criteria — National legislation providing an option for the supervisory authority to increase a takeover bid in the event of collusion between the offeror and the seller)
ECLI:EU:UNKNOWN:62016CB0655
62016CB0655
With us you find everything. Try it now!
I imagine what I want to write in my case, I write it in the search engine and I get exactly what I wanted. Thank you!
Valentina R., lawyer
8.1.2018
Official Journal of the European Union
C 5/16
(Joined Cases C-655/16 and C-656/16) (<a id="ntc1-C_2018005EN.01001601-E0001" href="#ntr1-C_2018005EN.01001601-E0001"> (<span class="super note-tag">1</span>)</a>
((Reference for a preliminary ruling - Article 99 of the Rules of Procedure of the Court of Justice - Company law - Directive 2004/25/EC - Takeover bids - Second subparagraph of Article 5(4) - Possibility of changing the price of the offer in specific circumstances and in line with clearly determined criteria - National legislation providing an option for the supervisory authority to increase a takeover bid in the event of collusion between the offeror and the seller))
(2018/C 005/21)
Language of the cases: Italian
Referring court
Parties to the main proceedings
Applicants: Hitachi Rail Italy Investments Srl (C-655/16), Finmeccanica SpA (C-656/16)
Defendant: Commissione Nazionale per le Società e la Borsa (Consob)
Interveners: Amber Capital Italia Sgr SpA, Amber Capital Uk Llp, Bluebell Partners Limited, Elliot International Lp, The Liverpool Limited Partnership, Elliot Associates L.P.
Operative part of the order
The second subparagraph of Article 5(4) of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids must be interpreted as not precluding national legislation, such as that at issue in the main proceedings, which allows a national supervisory authority to adjust upwards the price of a takeover bid in the event of ‘collusion’, without setting out the specific conduct that characterises that notion, on condition that the interpretation of that notion can be deduced in a sufficiently clear, precise and foreseeable manner from that legislation, using methods of interpretation recognised by national law.
(<span class="note">1</span>) <a href="./../../../../legal-content/EN/AUTO/?uri=OJ:C:2017:121:TOC">OJ C 121, 18.04.2017</a>.