Govt proposes law to delay hostile takeovers

The Dutch cabinet said on Friday it has finished drafting a law granting listed companies the right to call a 250-day grace period to consider a hostile takeover offer.

The government first proposed such a law in 2017 in the wake of failed foreign takeover bids for paintmaker Akzo Nobel and Anglo-Dutch consumer products maker Unilever.

The draft law will now be circulated for public comment before being revised and submitted to parliament for approval.