FL450 – European Competition Law, Mergers & Acquisitions
Master of Science in Financial Law and International Taxation
Core Course
FL450 – European Competition Law, Mergers & Acquisitions
Course Unit Code: FL450
Type Of Unit: Core
Level of Course Unit: Second cycle
Year of Study: First/second year
Semester: On demand
Number of ECTS Credits: 6
Class Contact Hours: 28
Mode of Delivery
Face to Face
Prerequisites
Course Objectives
Business entities have an important role to play in the European Union internal market. The mergers and acquisitions can play a significant role to assist the companies expand and develop their products and services. Especially Cross-Border mergers and acquisitions, as one of the most important but also complicated strategic corporate actions, they remain an important tool for business restructuring. The Cross-Border mergers can further promote the Single Market without barriers in the European Union. In this dissertation, we discuss the application of the Cross-Border Mergers Directive (2005\56\EC) of European Union facilitating the cross-border mergers between limited liability companies situated in different Member States in the light also of the fundamental freedom of establishment following the SEVIC ruling of the European Court of Justice’s (ECJ). This course will further examine the tax implications of M&As as well as the EU regulations applicable to cross-border mergers from a market competition perspective and the tools available to the European Commission for the fight of abuse of competition rules.
Learning Outcomes
- To focus on the main aspects of European Union competition law, namely the content of Articles 101 and 102 TFEU, as well as some fundamental notions of those Articles developed through CJEU’s case law. The idea is to give a brief understanding about the EU competition law and to introduce the most fundamental aspects of it.
- To provide a comprehensive understanding of the motives that encourage companies to go through a Merger or Acquisition either national or cross-border and the importance of the personal motives of the two management organs of the companies, being the shareholders and the managers.
- To provide analyses of the area of cross-border mergers (i.e. cross-border transformations covered by the Merger Directive) and the identification of areas where full conformity between the national and the EU rules are not yet achieved. The course introduces concrete recommendations in order to achieve full compliance of the national corporation tax law with the acquis communaitaire.
- To provide a descriptive and legal analysis with the explanation of the various mechanisms open for the European M&A practice, while outlining the usage of these options in practice and the consequences on the EU Company law framework.
- To help determine to which extend the Mergers and Takeovers Legislation in the EU is substantiated in practice and commercial realities of the European corporate world.
- To emphasize the most relevant discussions (the relevance, need for reform, efficiency of the EU Directives, possible alternatives) and opinions on these discussions concerning the role and future development of the M&A in Europe.
Course Content
Course Features
Planned learning activities and teaching methods
Lectures; in-class discussion and debates; in-class exercises; problem sets; teamwork.
Assessment methods and criteria
10% Participation
15% In class open book interim exam
75% Final exam
Language of Instruction
English
Work Placement(s)
Not applicable
Readings
Recommended or required reading
To be confirmed
English (UK) 
Ελληνικά