BRUSSELS - European Union leaders will on Thursday back plans to defend healthcare, infrastructure and other firms seen as having strategic role from hostile foreign takeovers, draft EU summit conclusions show.
Leaders of the 27 EU states in a videoconference starting from 4 p.m. will agree to take “all necessary measures to protect strategic assets and technology from foreign investments that could threaten legitimate public policy objectives,” according to draft conclusions of the call. Among the firms that should enjoy special safeguards are those active in health, biotechnology, medical research and “infrastructures that are essential for our security and public order,” the commission said.
EU leaders will support Brussels’ guidance, which chimes with a push last year from France and Germany to relax EU competition rules and facilitate mergers of EU companies in a bid to boost their size and defenses against foreign raiders.