going private transactions in going private transactions in france

A) ON REGULATED MARKETS
Two o procedures p ocedu es are a e used in tthe e go going g pprivate ate pprocess: ocess tthe e
buyout offer and the squeeze-out.
Percentage of the total number of delistings:
2002 2003 2004 2005 2006 2007 2008
40% 54% 60% 44% 46% 32% 65%
Common features:
Stock exchange procedures (not company law procedures):
controlling shareholder and minority shareholders face to face.
No approval from the shareholders at a general meeting meeting.
Common objectives: not to gain control but to take the
company private.
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