The directors of Dutch bourse-listed companies should maintain good lines of communication about their long-term strategy in order to hold predators at bay, Hans Wyers, former economic affairs minister and later head of chemicals group Akzo Nobel told the Telegraaf on Monday.

Wyers said that anti-takeover constructions such as preference shares kept unwanted suitors away in the short term, but that clear communication was essential in the longer run. ‘The best defense against takeovers is a clear strategy with proven results,’ he told the paper.

Wyers, who sits on the boards of Heineken, Shell and Ajax, does not favour government intervention except if strictly necessary, for instance in the case of  protection of know-how or vital infrastructure.

‘A few major investors like pension funds with which you have a good understanding is very good protection. A lot of institutional investors do not have their eye on the long-term strategy of a company because they themselves are too focused to short-term results,’ Wyers said.