PhD student: Mr J.L. Wetzel

Promotors: Mrs Prof H.E.G.S. Schneider, Mrs Prof M. Olaerts

Duration: 1/7/2012 - 31/12/2016

PhD defence: Maastricht, 16/12/2016

Abstract:

The thesis is about termination fees and the working title of the thesis is On the Regulation of Termination Fees A Comparative and European approach. Termination fees in the context of an aborted M&A transaction are fees paid as a result of the transaction being aborted by one party to the transaction to the other. Standard Termination Fees are paid by the (unsuccessful) seller to the (unsuccessful) buyer; Reverse Termination Fees are paid by the (unsuccessful) buyer to the (unsuccessful) seller. I analyse the reasons for parties agreeing to Standard Termination Fees and Reverse Termination Fees, as well as their regulation in the UK, the Netherlands and Germany. I also discuss how termination fees should be regulated and whether there is a role for harmonisation across the EU to bring about such optimal regulation.