BEHIND THE BOARDROOM BATTLE: CORPORATE TAKEOVERS AND THE FATE OF MINORITY SHAREHOLDERS RIGHT IN NIGERIA.

Abstract

This research critically examines the concept of corporate takeovers in Nigeria and its effect on the protection of minorities in Nigerian Corporate practice. It seeks to explore the concept and strategies of corporate takeovers as corporate restructuring method and how it can affect minorities interest in a company. This research uses doctrinal method while engaging statutes and case law. The research observes that the emerging trend of takeovers in Nigeria as a restructuring method for financial growth and development of companies though economically relevant requires a strengthened legal and regulatory background to be able to meet international best practices and standards. Without this, the protection of minorities in the corporate sectors will be threatened and jeopardized. Several defence strategies used by target companies faced with takeover bids have also been explored in this research. This research recommends that there should be an enactment of a takeover code which will regulate corporate takeovers in Nigeria and specifically provide for the protection of minority Shareholders under such circumstances which will be under the control of the Securities and Exchange Commission. It further concludes that the core of good corporate governance in Nigeria is adopting international best practices that will promote investment and boost investor’s confidence.