This book examines reforms in company and takeover law, crucial to modern business and economics. The new European 13th directive on takeovers and its 'break-through' rule are discussed, as is the controversial level playing field for takeover activities all over Europe and from the United States. The volume provides comprehensive commentary and full text of the European Commission's new company law action plan. Issues including corporate disclosure, remuneration of directors, personal liability of board members, auditors, and conflicts of interest are also examined.