Takeover-erbjudanden - Målbolagsstyrelsens skyldigheter vid en takeover-situation
(2024) HARH13 20232Department of Business Law
- Abstract (Swedish)
- Denna uppsats tar sikte på målbolagsstyrelsens roll i en takeover-situation. För att besvara syftet kommer uppsatsen inledningsvis presentera styrelsens allmänna handlingsutrymme. Efter detta kommer fokus riktas mot målbolagsstyrelsens specifika skyldigheter i en takeover-situation samt utrymmet att vidta försvarsåtgärder i en sådan situation. För att besvara frågeställningarna kommer utredningen att följa en rättsdogmatisk metod för att undersöka gällande rätt.
Ett aktiebolag består av en styrelse som ska leda bolaget framåt genom bolagsstämmans anvisningar. För att besluten som styrelsen fattar ska vara korrekta tillfaller flertalet aktiebolagsrättsliga regleringar som organet behöver följa. Utöver de lagreglerade bestämmelser som... (More) - Denna uppsats tar sikte på målbolagsstyrelsens roll i en takeover-situation. För att besvara syftet kommer uppsatsen inledningsvis presentera styrelsens allmänna handlingsutrymme. Efter detta kommer fokus riktas mot målbolagsstyrelsens specifika skyldigheter i en takeover-situation samt utrymmet att vidta försvarsåtgärder i en sådan situation. För att besvara frågeställningarna kommer utredningen att följa en rättsdogmatisk metod för att undersöka gällande rätt.
Ett aktiebolag består av en styrelse som ska leda bolaget framåt genom bolagsstämmans anvisningar. För att besluten som styrelsen fattar ska vara korrekta tillfaller flertalet aktiebolagsrättsliga regleringar som organet behöver följa. Utöver de lagreglerade bestämmelser som styrelsen behöver förhålla sig till i sitt dagliga arbete tillfaller flertalet aktiebolagsrättsliga normer som är av stor vikt i det dagliga arbetet. De aktiebolagsrättsliga normerna faller tillbaka på det lagreglerade vinstsyftet i aktiebolagslag (2005:551). Detta gör att styrelsen behöver förhålla sig till normerna för att tillvarata det lagreglerade vinstsyftet.
Vid en takeover-situation tillfaller utöver det aktiebolagsrättsliga regleringarna ett antal skyldigheter för målbolagsstyrelsen. Skyldigheterna grundas i att målbolagsstyrelsen ska agera i enlighet med aktieägarnas intresse. Detta gör att styrelsen i målbolaget inte får agera i eget intresse eller enskild aktieägares intresse. Styrelsen behöver därmed beakta samtliga aktieägares intresse vid beslut i en takeover-situation. Ska styrelsen genomföra en åtgärd mot det inkommande budet får detta inte göras på egen hand. För att åtgärden ska kunna genomföras behöver bolagsstämman godkänna åtgärden innan den genomförs.
I en takeover-situation är ledstjärnan likt den aktiebolagsrättsliga normen ett vinstsyfte. Aktieägarnas intresse står i fokus i en takeover-situation som likställs med aktiebolagsrättsliga vinstsyftet eftersom större vinst genererar i större aktieutdelning. (Less) - Abstract
- This essay aims at the role of the target company's board in a takeover situation. To answer the purpose, the essay will initially present the board's general room for action. After this, the focus will be directed towards the target company's board's specific obligations in a takeover situation and the scope to take defensive measures in such a situation. To answer the questions, the investigation will follow a legal dogmatic method to examine the applicable law.
A limited liability company consists of a board of directors that must lead the company forward through the instructions of the general meeting. For the decisions made by the board to be correct, the majority of company law regulations apply which the body needs to follow. In... (More) - This essay aims at the role of the target company's board in a takeover situation. To answer the purpose, the essay will initially present the board's general room for action. After this, the focus will be directed towards the target company's board's specific obligations in a takeover situation and the scope to take defensive measures in such a situation. To answer the questions, the investigation will follow a legal dogmatic method to examine the applicable law.
A limited liability company consists of a board of directors that must lead the company forward through the instructions of the general meeting. For the decisions made by the board to be correct, the majority of company law regulations apply which the body needs to follow. In addition to the statutory provisions that the board must comply with in its daily work, numerous corporate law norms are of great importance in the day-to-day work. The company law standards fall back on the statutory profit motive in the Swedish Companies Act (2005:551). This means that the board must adhere to the standards to safeguard the legally regulated purpose of profit.
In a takeover situation, in addition to the regulations of limited company law, several obligations accrue to the board. The obligations are based on the fact that the board must act by the interests of the shareholders. This means that the board may not act in its interest or the interest of individual shareholders. The board thus needs to consider the interests of all shareholders when making decisions in a takeover situation. Should the board implement a measure against the incoming bid, this must not be done alone. For the measure to be implemented, the general meeting needs to approve the measure before it is implemented.
In a takeover situation, the guiding principle, similar to the standard of company law, is a profit motive. The interests of the shareholders are the focus in a takeover situation, this is equated with the profit motive under company law, because greater profit, greater share dividends. (Less)
Please use this url to cite or link to this publication:
http://lup.lub.lu.se/student-papers/record/9145970
- author
- Holmgren Kullander, Gabriel LU
- supervisor
-
- Lovisa Halje LU
- organization
- course
- HARH13 20232
- year
- 2024
- type
- M2 - Bachelor Degree
- subject
- keywords
- Aktiebolag, Aktieägarintresse, Aktiemarknadsnämnden, Försvarsåtgärder, Målbolagsstyrelse, Styrelseneutralitetsregeln, Takeover-erbjudande, Vinstsyfte.
- language
- Swedish
- id
- 9145970
- date added to LUP
- 2024-01-21 10:52:45
- date last changed
- 2024-01-21 10:52:45
@misc{9145970,
abstract = {{This essay aims at the role of the target company's board in a takeover situation. To answer the purpose, the essay will initially present the board's general room for action. After this, the focus will be directed towards the target company's board's specific obligations in a takeover situation and the scope to take defensive measures in such a situation. To answer the questions, the investigation will follow a legal dogmatic method to examine the applicable law.
A limited liability company consists of a board of directors that must lead the company forward through the instructions of the general meeting. For the decisions made by the board to be correct, the majority of company law regulations apply which the body needs to follow. In addition to the statutory provisions that the board must comply with in its daily work, numerous corporate law norms are of great importance in the day-to-day work. The company law standards fall back on the statutory profit motive in the Swedish Companies Act (2005:551). This means that the board must adhere to the standards to safeguard the legally regulated purpose of profit.
In a takeover situation, in addition to the regulations of limited company law, several obligations accrue to the board. The obligations are based on the fact that the board must act by the interests of the shareholders. This means that the board may not act in its interest or the interest of individual shareholders. The board thus needs to consider the interests of all shareholders when making decisions in a takeover situation. Should the board implement a measure against the incoming bid, this must not be done alone. For the measure to be implemented, the general meeting needs to approve the measure before it is implemented.
In a takeover situation, the guiding principle, similar to the standard of company law, is a profit motive. The interests of the shareholders are the focus in a takeover situation, this is equated with the profit motive under company law, because greater profit, greater share dividends.}},
author = {{Holmgren Kullander, Gabriel}},
language = {{swe}},
note = {{Student Paper}},
title = {{Takeover-erbjudanden - Målbolagsstyrelsens skyldigheter vid en takeover-situation}},
year = {{2024}},
}