Die Rechtsbeziehungen zwischen Bank und Bieter bei öffentlichen Übernahmen nach dem WpÜG

The question of the involvement of banks in public takeovers and their underlying legal relationships, which can be classified between banking and capital market law, play an important economic role. From the bidder's perspective, banks provide important advisory services, prepare the documents required to carry out the takeover or structure the financing. In addition, the technical handling of the public takeover offer is probably the most important step - the exchange of service and consideration - with the participation of banks. This work presents the participation files of banks based on the process of a public takeover from a bidder perspective and deals in particular with the legal relationships between the bank and the bidder.