POLAND Law and Practice Contributed by: Agnieszka Janicka, Krzysztof Hajdamowicz and Jarosław Lorenc, Clifford Chance LLP
11.3 Interference With Completion Given that a typical M&A transaction in Poland does not involve a shareholders’ resolution for completion of the acquisition (ie, minority shareholders do not usually have an opportunity to vote against and file a claim), the practical ability of activists to block the completion of the transaction is rather limited.
However, it is not unusual for activists to attempt to interfere with resolutions on the increase of the share capital (if shares are to be issued to a new sharehold - er) or with post-completion steps such as a squeeze- out or delisting.
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