Germany passes resolution blocking foreign takeovers

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Germany passes resolution blocking foreign takeovers

Apr 08, 2020 21:48 IST

Germany’s Cabinet on Wednesday approved legislation that will make it easier for authorities to prevent foreign takeovers of strategically important companies. The plans pre-date the coronavirus crisis, but come as the German government has vowed to 'stand by local companies' in the face of investors who might now hope to acquire firms cheaply. The new rules, which require parliamentary approval, will lower the threshold for examining and blocking potential takeovers. Authorities will be able to examine whether an acquisition will lead to a 'foreseeable impairment' of public order or security, rather than an 'actual threat' to it at present.