Dutch investors lobby says no role for government in most takeover battles

The Dutch government should not get involved in takeover battles for Dutch firms unless they have a crucial role in the economy, says lobby group Eumedion, which represents large investors such as pension funds.

While there is a role for the government if companies which have a key role in society are under attack, there is ‘no role’ for ministers in other takeovers, Eurmedion said in a statement.

The lobby group was commenting on recent government proposals to protect key telecom firms from takeover.

The draft bill will enable ministers to prevent takeovers of ‘telephony, data centres, hosting services and internet’ companies which are ‘of vital importance to national security and public order.’

Various politicians have suggested that other companies should also be better protected against hostile takeovers.

Two Dutch companies, AkzoNobel and Unilever, have recently been the subject of hostile takeover attempts. Unilever was able to head off Kraft while AkzoNobel on Wednesday dismissed a second bit by PPG.