Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 1 of 1
Full-Text Articles in Law
Bag Wars And Bank Wars, The Gucci And Banque National De Paris Hostile Bids: European Corporate Culture Responds To Active Shareholders, Ernesto A. Hernandez-Lopez
Bag Wars And Bank Wars, The Gucci And Banque National De Paris Hostile Bids: European Corporate Culture Responds To Active Shareholders, Ernesto A. Hernandez-Lopez
Ernesto A. Hernandez
This essay examines trends in European corporate governance, which shape the context wherein hostile takeovers attempts have occurred. It examines shareholder activism, corporate structure in Europe, and the European Union's (EU) attempts to regulate takeovers. This essay analyzes the takeover experiences involving: 1) Louis Vuitton Moet Hennessey's (LVMH) 1999-2001 bid for Gucci, with Pinault-Printemps-Redoute (PPR) serving as Gucci's white knight, and 2) Banque National de Paris' (BNP) 1999 dual-bid for Paribas and Societe General (SG). The essay asks two central questions: 1) why were the European hostile takeovers so prolonged and antagonistic?; and 2) what has been the EU and …