Airbus CEO Thomas Enders stated there should be institutional protection for EADS from hostile takeovers, but he does not believe that the company needs the German state to be a shareholder to ensure such protection (Reuters, 13-Jun-2011). He also stated there does not need to be balance between state shareholders. German manufacturer Daimler is in talks for reducing its 15% share in EADS. The company also manages the 7.5% stake held by a consortium of banks. Earlier this year, German and French authorities confirmed they were in negotiations regarding EADS’ ownership structure. One option is the possibility of a “golden share” giving both countries veto rights over strategic issues. However, EADS is registered in the Netherlands, placing it under Dutch corporate law, which has no provision for golden shares.
14-Jun-2011 10:48 AM