About the Hostile Corporate Takeovers

The attempts of taking over the shares of the shareholders of four commercial banks and one insurance company in July-August 2011 resemble very much to some 'classic' corporate raids with the purpose of robbing the legal shareholders. This analytical note sheds more light on the definition of hostile corporate takeovers, their consequences and forms in Republic of Moldova. It shows that although the national legislation does not define 'corporate takeovers' as illegal deed, the penal legislation envisions severe punishments for the actions committed along the process of preparing and unfolding a corporate takeover.