ABSTRACT
Harmonisation, the replacing of multiple and divergent national rules in a particular area with a single supranational rule, is particularly essential for regulating takeovers in the European Community. The essence of takeover regulation is the facilitation of restructuring companies, which in turn promotes free movement of capital. Articles 44 and 95 the EC Treaty provide a mandate to the Commission to enact secondary legislation that would foster uniform standards throughout the Community in order to give efficacy to free movement of capital. At the heart of this harmonisation process is the difficulty of balancing between creating a level playing field through uniform standards for companies to compete and ensuring that national diversity is respected. This chapter examines the factors affecting the process of achieving this balance in harmonising takeover regulations in the Community.
