Law Business Research Ltd.
Amber Capital helping Vivendi to acquire Gameloft in a hostile takeover, Elior shareholders rejecting the remuneration package of the CEO, the investor association ADAM contesting the tender offer of Eurosic for Foncière de Paris and TCI (The Children's Investment Fund) actively fighting the merger between Zodiac and Safran: shareholder activism campaigns have increased over the years in France and are now becoming a permanent and important feature in the French market.
It is likely that this will increasingly be the case in the next few years given new corporate governance rules, such as the introduction in 2016 of a mandatory say-on-pay system in the French Commercial Code through a binding shareholder vote on the compensation of company officers.
For the second edition of Getting the Deal Through: Shareholder Activism & Engagement 2017, Jacques Naquet-Radiguet, Juliette Loget and Ferdinand Barbé are pleased to have contributed the chapter on France focusing on the law and regulation that is relevant to shareholder activism and engagement and on recent trends and developments.
Reproduced with permission from Law Business Research Ltd. This article was first published in Getting the Deal Through: Shareholder Activism & Engagement 2017 (published in January 2017; contributing editors: Arthur F Golden, Thomas J Reid, Laura Turano and Thomas D Malinowsky, Davis Polk & Wardwell LLP). For further information please visit www.gettingthedealthrough.com.