Hollande Giving Workers Say in M&A Deepens Fortress-France Image

Takeovers of French companies, already among Europe’s least targeted, are about to become even less desirable.

Seeking to fend off hostile takeovers and limit plant closings, the French National Assembly yesterday adopted rules that would give employees a bigger say over bids. The bill, which also forces companies with more than 1,000 employees in France to document attempts to find a suitable buyer before shuttering a plant with more than 50 workers, is expected to become law once it has been discussed and voted in the Senate and then passed by parliament.