Germany approves new powers to block foreign takeovers in healthcareChristian Fernsby ▼ | May 20, 2020
Germany gave itself new powers to veto hostile foreign takeover bids for healthcare companies Wednesday, a measure designed to ensure a continuous supply of essential products during the coronavirus crisis.
Block Germany hospital
The measure comes after the early stages of the coronavirus saw a worldwide run on materials believed crucial to combat COVID-19 - the respiratory disease caused by the new virus - including reported attempts by the United States government to buy Curevac, a pharmaceuticals start-up that was working to develop a vaccine against the disease.
In future, the government will be allowed to examine the security implications of a bid from outside the European Union as soon as the buyer holds more than 10% of the healthcare company’s shares. Now, the threshold is 25%. ■