Cleary Breakfast: The Equal Treatment Principle in Mandatory Tender Offers

An Overview Starting From the “Pininfarina Case”

September 30, 2021



In a key judgment of July 14, 2021, the Court of Turin addressed the application of the shareholders equal treatment principle in the context of a complex control transaction triggering a mandatory tender offer on a listed company’s shares. Federico Cenzi Venezze and Federico Privitera discussed the most relevant findings of the judgment and the position expressed by Consob in a few other cases of contested mandatory tender offers.

The seminar was part of the Cleary Breakfast series.