Swiss Propose Reforming Takeover Code to Align With EU

(Bloomberg) -- The Swiss government proposes to bring rules governing corporate takeovers in line with those of the European Union, potentially easing cross-border mergers.

The new standard, already used by most EU members, would allow authorities to intervene if a deal were to significantly impede competition, the Swiss government said on Wednesday. At present, intervention is only triggered if an acquisition completely obstructs competition.

The Swiss Economy Ministry must draft the proposed statute, before a consultation process begins late this year. The bill must also be approved by parliament.

To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net

To contact the editors responsible for this story: Jan Dahinten at jdahinten@bloomberg.net, Dylan Griffiths

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