Autore: Morello, Antonio
Titolo: Le cosiddette «garanzie di adempimento» nelle OPA
Periodico: Osservatorio del diritto civile e commerciale
Anno: 2025 - Fascicolo: 1 - Pagina iniziale: 107 - Pagina finale: 140

The article focuses on a phenomenon that is poorly regulated and substantially unaddressed. In case of takeover bid, the payment of the relevant price should be guaranteed: the legislation and relevant regulations speak of «guarantee» referring to some documents that do not constitute «guarantees» in the proper and true meaning of the Italian civil code; the main document is the so called «cash confirmation letter». On this topic, market practice has greatly evolved but the law is lacking: this raises several questions on the legal regime and relevant responsibilities. The forthcoming reform of the Italian legislation on financial markets rep resents an opportunity to regulate such phenomenon.




SICI: 2281-2628(2025)1<107:LC«DAN>2.0.ZU;2-7
Testo completo: https://www.rivisteweb.it/download/article/10.4478/117765
Testo completo alternativo: https://www.rivisteweb.it/doi/10.4478/117765

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