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Cash-Settled Derivatives and Their Role in Companies’ Takeovers
U: New Europe - Old Values? Reform and Perseverance / Bodiroga-Vukobrat, Nada; Rodin, Siniša; Sander, Gerald G. (ur.). Heidelberg: Springer, 2016. str. 235-267. urn:nbn:hr:118:601646
Čulinović-Herc, Edita; Zubović, Antonija

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Čulinović Herc, E. i Zubović, A. (2016). Cash-Settled Derivatives and Their Role in Companies’ Takeovers. U N. Bodiroga Vukobrat, (Ur.), S. Rodin, (Ur.), G. G. Sander, (Ur.), New Europe - Old Values? Reform and Perseverance (str. 235-267). Heidelberg: Springer. Preuzeto s https://urn.nsk.hr/urn:nbn:hr:118:601646

Čulinović Herc, Edita i Antonija Zubović. "Cash-Settled Derivatives and Their Role in Companies’ Takeovers." New Europe - Old Values? Reform and Perseverance, Ur. Nada Bodiroga Vukobrat, Ur. Siniša Rodin, Ur. Gerald G. Sander, Springer, 2016, str. 235-267. https://urn.nsk.hr/urn:nbn:hr:118:601646

Čulinović Herc, Edita i Antonija Zubović. "Cash-Settled Derivatives and Their Role in Companies’ Takeovers." U New Europe - Old Values? Reform and Perseverance, ur. Nada Bodiroga Vukobrat, ur. Siniša Rodin, ur. Gerald G. Sander, 235-267. Heidelberg: Springer, 2016. https://urn.nsk.hr/urn:nbn:hr:118:601646

Čulinović Herc, E. i Zubović, A. (2016) 'Cash-Settled Derivatives and Their Role in Companies’ Takeovers' u Bodiroga Vukobrat, N. (ur.), Rodin, S. (ur.), Sander, G. G. (ur.) New Europe - Old Values? Reform and Perseverance Heidelberg: Springer, str. 235-267. Preuzeto s: https://urn.nsk.hr/urn:nbn:hr:118:601646 (Datum pristupa: 03.05.2024.)

Čulinović Herc E, Zubović A. Cash-Settled Derivatives and Their Role in Companies’ Takeovers. U: N. Bodiroga Vukobrat, ur., S. Rodin, ur., G. G. Sander, ur. New Europe - Old Values? Reform and Perseverance. Heidelberg: Springer; 2016. Str. 235-267. [pristupljeno 03.05.2024.] Dostupno na: https://urn.nsk.hr/urn:nbn:hr:118:601646

E. Čulinović Herc i A. Zubović, "Cash-Settled Derivatives and Their Role in Companies’ Takeovers", New Europe - Old Values? Reform and Perseverance, N. Bodiroga Vukobrat, S. Rodin i G. G. Sander, Ur. Heidelberg: Springer, 2016, str. 235-267. [Online] Dostupno na: https://urn.nsk.hr/urn:nbn:hr:118:601646

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Podaci o radu
Naslov (engleski)Cash-Settled Derivatives and Their Role in Companies’ Takeovers
AutorEdita Čulinović-Herc
AutorAntonija Zubović
UrednikNada Bodiroga-Vukobrat
UrednikSiniša Rodin
UrednikGerald G. Sander
Autorova ustanovaSveučilište u Rijeci
Pravni fakultet
(Zavod za pravo društava i financijsko pravo)
(Katedra za trgovačko pravo i pravo društava)
Znanstveno / umjetničko
područje, polje i grana		DRUŠTVENE ZNANOSTI
Pravo
Sažetak (engleski)
This paper deals with the role of cash-settled derivatives in the companies’ takeovers. EU capital market practice shows that they can be powerful instrument to gain or retain control in the target company. Because of abusive nature of their use—to hold them deliberately under the radar and then to create an element of surprise with the hostile takeover bid, many EU legislators upgraded their disclosure regime by adding new comprehensive “catch all” disclosure duties. In some EU states, these changes were done through “the major block of shares” disclosure duties, mostly aligned with takeover disclosure duties. Latest amendments in some jurisdictions showed that takeover disclosure duties deserve slightly modified approach. The reason was simple—if cash-settled derivatives are calculable into the control block, their adding can trigger mandatory takeover bid. If not, prospective hostile bidder could secretly build its “cash-settled stake” and “in last minute” reverses it into the voting rights resulting in loss of the takeover premium. This paper tries to approach the problem by putting emphasis on the intent of the bidder rather than on upgrading technically demanding rules on calculation.
Ključne riječi (engleski)
Jezikengleski
Vrsta publikacijeZnanstveni rad - Poglavlje u knjizi
Status objaveObjavljen
Vrsta recenzijeNepoznato
Verzija publikacijeObjavljena verzija rada (izdavačev PDF)
Naslov knjigeNew Europe - Old Values? Reform and Perseverance
Brojčani podacistr. 235-267
ISBN978-3-319-02212-3
URN:NBNurn:nbn:hr:118:601646
Datum objave publikacije2016
URL dokumentahttp://bib.irb.hr/811168
Vrsta resursaTekst
IzdavačSpringer
Mjesto izdavanjaHeidelberg
Prava pristupaZatvoreni pristup
Uvjeti korištenjaIkona licence Zaštićeno autorskim pravom.
Datum i vrijeme pohrane2022-12-14 13:51:10