{"id":397238,"date":"2026-05-28T15:19:56","date_gmt":"2026-05-28T13:19:56","guid":{"rendered":"https:\/\/ga-p.com\/?post_type=publicacion&p=397238"},"modified":"2026-05-28T15:19:59","modified_gmt":"2026-05-28T13:19:59","slug":"voluntary-takeover-bids-and-squeeze-outs","status":"publish","type":"publicacion","link":"https:\/\/ga-p.com\/en\/publications\/voluntary-takeover-bids-and-squeeze-outs\/","title":{"rendered":"Voluntary takeover bids and squeeze-outs"},"content":{"rendered":"
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The Judgment of the Court of Justice of the European Union (Fifth Chamber) of 13 May 2026 (Korfin and Sempiola v Slovnaft, Case C-225\/25) clarifies the concept of a takeover bid<\/em> for the purposes of Article 2 of the 2004 Takeover Bids Directive, such that an offer made to the holders of securities of a company with a view to acquiring all or some of those securities does not fall within the concept of a takeover bid<\/em> where it is made by an offeror who already controls the offeree company. Consequently, based on that court\u2019s interpretation of the Directive\u2019s provisions, there is no right of squeeze-out in such voluntary takeover bids.<\/p>\n\n\n\n

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Autor\/s<\/div>\n
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\n <\/span>\n Reyes Pal\u00e1<\/span>\n – Academic Counsel<\/span>\n <\/p>\n <\/div>\n <\/div>\n \n \n

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\n <\/span>\n Analysis<\/span>\n <\/p>\n <\/div>\n \n

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\n <\/span>\n Corporate and M&A<\/a>\n <\/p>\n <\/div>\n <\/div>\n<\/div>\n\n<\/div>\n<\/div>\n\n<\/div>\n\n <\/div>\n\n<\/div>\n\n\n

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Reyes Pal\u00e1<\/div>\n
Consejera Acad\u00e9mica<\/div>\n
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\n \"email\"\n\n rpala@ga-p.com<\/a>\n <\/div>\n
\n \n Madrid<\/a>\n <\/div>\n <\/div>\n <\/div>\n
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\n Banking and Finance, <\/a>\n Capital Markets, <\/a>\n Corporate and M&A<\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n \"icon\"\n\n \"icon\"\n\n <\/div>\n\n <\/div>\n
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Reyes Pal\u00e1<\/div>\n
Consejera Acad\u00e9mica<\/div>\n
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\n \"email\"\n\n rpala@ga-p.com<\/a>\n <\/div>\n
\n \n Madrid<\/a>\n <\/div>\n <\/div>\n <\/div>\n
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\n Banking and Finance, <\/a>\n Capital Markets, <\/a>\n Corporate and M&A<\/a>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n \"icon\"\n\n \"icon\"\n\n <\/div>\n\n <\/div>\n <\/div>\n <\/div>\n
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The Judgment of the Court of Justice of the European Union (Fifth Chamber) of 13 May 2026 (Korfin and Sempiola v Slovnaft, Case C-225\/25) clarifies the concept of a takeover bid for the purposes of Article 2 of the 2004 Takeover Bids Directive, such that an offer made to the holders of securities of a company with a view to acquiring all or some of those securities does not fall within the concept of a takeover bid where it is made by an offeror who already controls the offeree company. Consequently, based on that court\u2019s interpretation of the Directive\u2019s provisions, there is no right of squeeze-out in such voluntary takeover bids. <\/p>\n","protected":false},"featured_media":390686,"template":"","publicacion_categoria":[126],"class_list":["post-397238","publicacion","type-publicacion","status-publish","has-post-thumbnail","hentry","publicacion_categoria-analysis-en"],"acf":[],"yoast_head":"\nVoluntary takeover bids and squeeze-outs - Despacho de abogados G\u00f3mez-Acebo y Pombo<\/title>\n<meta name=\"description\" content=\"The Judgment of the Court of Justice of the European Union (Fifth Chamber) of 13 May 2026 (Korfin and Sempiola v Slovnaft, Case C-225\/25) clarifies the concept of a takeover bid for the purposes of Article 2 of the 2004 Takeover Bids Directive, such that an offer made to the holders of securities of a company with a view to acquiring all or some of those securities does not fall within the concept of a takeover bid where it is made by an offeror who already controls the offeree company. Consequently, based on that court\u2019s interpretation of the Directive\u2019s provisions, there is no right of squeeze-out in such voluntary takeover bids.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ga-p.com\/en\/publications\/voluntary-takeover-bids-and-squeeze-outs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Voluntary takeover bids and squeeze-outs - Despacho de abogados G\u00f3mez-Acebo y Pombo\" \/>\n<meta property=\"og:description\" content=\"The Judgment of the Court of Justice of the European Union (Fifth Chamber) of 13 May 2026 (Korfin and Sempiola v Slovnaft, Case C-225\/25) clarifies the concept of a takeover bid for the purposes of Article 2 of the 2004 Takeover Bids Directive, such that an offer made to the holders of securities of a company with a view to acquiring all or some of those securities does not fall within the concept of a takeover bid where it is made by an offeror who already controls the offeree company. Consequently, based on that court\u2019s interpretation of the Directive\u2019s provisions, there is no right of squeeze-out in such voluntary takeover bids.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ga-p.com\/en\/publications\/voluntary-takeover-bids-and-squeeze-outs\/\" \/>\n<meta property=\"og:site_name\" content=\"Despacho de abogados G\u00f3mez-Acebo y Pombo\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-28T13:19:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ga-p.com\/wp-content\/uploads\/2026\/03\/Analysis-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2500\" \/>\n\t<meta property=\"og:image:height\" content=\"1308\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/ga-p.com\\\/en\\\/publications\\\/voluntary-takeover-bids-and-squeeze-outs\\\/\",\"url\":\"https:\\\/\\\/ga-p.com\\\/en\\\/publications\\\/voluntary-takeover-bids-and-squeeze-outs\\\/\",\"name\":\"Voluntary takeover bids and squeeze-outs - Despacho de abogados G\u00f3mez-Acebo y Pombo\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/ga-p.com\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/ga-p.com\\\/en\\\/publications\\\/voluntary-takeover-bids-and-squeeze-outs\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/ga-p.com\\\/en\\\/publications\\\/voluntary-takeover-bids-and-squeeze-outs\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/ga-p.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/Analysis-1.jpg\",\"datePublished\":\"2026-05-28T13:19:56+00:00\",\"dateModified\":\"2026-05-28T13:19:59+00:00\",\"description\":\"The Judgment of the Court of Justice of the European Union (Fifth Chamber) of 13 May 2026 (Korfin and Sempiola v Slovnaft, Case C-225\\\/25) clarifies the concept of a takeover bid for the purposes of Article 2 of the 2004 Takeover Bids Directive, such that an offer made to the holders of securities of a company with a view to acquiring all or some of those securities does not fall within the concept of a takeover bid where it is made by an offeror who already controls the offeree company. 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