In its recently published decision 6 Ob 211/22d, the Supreme Court strengthened the relevance of an (omnilateral) syndicate agreement and made important statements on the protection against a threatened breach of the syndicate agreement.
The committee originally established to review exchange ratios in the case of mergers is in practice primarily concerned with reviewing cash settlements offered to shareholders in the case of squeeze-outs.
In 2017, BWT AG – a water technology company with its headquarters in Upper Austria that until then had been listed on the stock exchange – was delisted (its stock exchange listing was terminated). In what is now its third decision on this delisting, the Austrian Supreme Court (OGH) recently provided important clarifications on questions relating to the holding of own shares and the squeeze-out of shareholders.
For the first time since the entry into force of the Squeeze-out Act 2006 (GesAusG), the Supreme Court's decision in case 6 Ob 138/19s – CERHA HEMPEL was involved in the proceedings – concluded the proceedings on reviewing the appropriateness of the cash settlement following a squeeze-out involving a listed company.