Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/27865
Authors: 
Schanz, Kay-Michael
Year of Publication: 
2008
Series/Report no.: 
Working paper series // Frankfurt School of Finance & Management 100
Abstract: 
This report analyses the possibility to outflank disclosure obligations under the German Securities Trading Act as well as the German Takeover Act by using derivative instruments in the context of the attack of Schaeffler KG on Continental AG. Irrespective of a limited knowledge of the complete facts it comes to the conclusion that, under certain conditions, there are good reasons to assume violations of legal obligations that would entitle the Federal Financial Supervisory Authority to fix hefty fines but not to prohibit the offer.
Subjects: 
Public takeovers
hostile takeovers
notification requirements
cash-settled equity total return swaps
cash swaps
equity options
options
mandatory offer
insider trading
capital markets
regulated markets
tender offer
tender offer rules
announcement obligations
securities trading act
takeover act
Schaeffler
Contigummi
Continental
BaFin
Bundesanstalt für Finanzdienstleistungsaufsicht
CSX
The Children´s Investment Fund Management
TCI
JEL: 
K12
K19
K22
K29
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

Files in This Item:
File
Size
333.98 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.