I 1989 konstaterede Kommissionen, at der kom flere og flere både venlige og fjendtlige overtagelser i den private sektor i Europa, og den tog derfor initiativ til, at der skulle vedtages en række fælles bestemmelser om denne praksis.
It was in 1989 that the Commission, noting the proliferation of takeover bids, both friendly and hostile, in the European private sector, took the initiative of proposing the adoption at Community level of a number of joint provisions governing these practices.