EC as an instrument in takeover battles

The example of OMV − MOL dispute suggests, that the traditional defense strategies implemented to protect against hostile takeover attempts are ineffective. MOL would not defends against attacks by the rich and well prepared OMV, despite the strong support received from the State authorities in the form of favorable to him legislation. The only defense measure which has proven effective was EU legislation. If MOL had not ensured the intervention of the European Commission prohibiting the merger, OMV, thanks to well-thought strategy and determination, could have successfully takeover the Hungarian company. The author stresses, that although well known traditional defense methods in many cases are still effective, there are necessary new alternative tools.