Public Bids and Squeeze-Outs in Germany: a Statistical Survey (2002-2016)

For the past several years Cleary Gottlieb Steen & Hamilton LLP has published legal and practical information regarding German public M&A transactions. For the new edition of this compilation, we have collected and analyzed information related to public bids and squeeze-outs in Germany from January 2002 through December 2016.

The content of this Book is divided into three surveys:

Survey I contains detailed information on 472 tender offers, takeover and/or mandatory offers launched under the Takeover Act, and includes, among other information, data on:

— Bidder and target;

— Amount and type of consideration;

— Premium;

— Conditions;

— Position taken by the target management; and

— Success of the bid.

Survey II offers information on 145 exemptions from the obligation to make a mandatory bid in situations where control is gained over a target.

Survey III presents data regarding 509 squeeze-outs of minority shareholders of German stock corporations.

At the end of the Book we have included an index of all companies involved as bidder, applicant for an exemption, majority shareholder or target.

The survey is available here.

This post comes to us from Cleary Gottlieb, and it has been co-authored by Gabriele Apfelbacher, Oliver Schröder and Michael J. Ulmer.