Squeezing Out Minority Shareholders: Vested Interest vs Economic Interest
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In a high-profile case of global interest, the Austrian Constitutional Court ruled on the Squeeze Out Act (the “Act”) that was introduced in 2006. The Act, on its face, permits a squeeze-out of minority shareholders by shareholders holding at least 90% of the shares. Conspicuously over and above the EU requirements on squeeze-outs in takeovers, under…