Paragraph 1: Public policy

At the request of the employer making the offer, the employer of the company to which the offer relates may convene a meeting of its social and economic committee within two working days of the announcement of the offer. Articles L. 2312-42 to L. 2312-46 apply. The periods provided for in these same articles run from the announcement of the offer. In the event of a significant change in the…

A company which has made an offer and whose employer, or the representative appointed by the employer from among the company’s officers or employees, fails to attend the meeting of the social and economic committee to which he has been invited in accordance with the conditions set out in Articles L. 2312-42 and L. 2312-46, may not exercise the voting rights attached to the securities of the company which is…

By way of derogation from article L. 2312-14, an employer who launches a public takeover bid for the capital of a company is not required to consult the social and economic committee prior to such launch. However, the employer must convene a meeting of the social and economic committee within two working days of the publication of the offer, or of the announcement of the offer in the case provided…

If the takeover bid is made by a company that does not have a social and economic committee, the employer informs the employees directly. Similarly, if there is no social and economic committee in the company which is the subject of the bid, the employer of that company shall inform the employees directly. In this case, within three days of publication of the offer document referred to in III of…

If, following the public offer, the bidder has acquired control of the company which is the subject of the offer within the meaning of Articles L. 233-1, L. 233-3 and L. 233-16 of the Commercial Code, it shall report to the social and economic committee of that company, during the sixth, twelfth and twenty-fourth months following the close of the bid, on the manner in which it has implemented the…

Articles L. 2312-45 to L. 2312-51 of this Code do not apply to the offers referred to in Articles L. 225-207 and L. 22-10-62 of the French Commercial Code or when the company is the subject of a public offer initiated by entities, acting alone or in concert within the meaning of Article L. 233-10 of the same Code, holding more than half of the capital or voting rights of…