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From Geoffrey Anyanwu, Enugu
The Deputy Vice-Chancellor, University of Nigeria, Enugu Campus, and a Professor of Corporate Law, Prof. Edith Nwosu, has advocated business combinations in the form of mergers and acquisitions to fight the present global economic recession.
Nwosu who made the advocacy while delivering the 172nd Inaugural Lecture of the University of Nigeria with the topic, ‘Gridlock and Goodluck in Quasi-Corporate Marriages in Nigeria’ said it had become imperative for the laws of the country to be harmonized to derive all the benefits associated with mergers and acquisitions.
She said: “From my research, I think that in order to ensure that we derive all the benefits, all the synergies associated with mergers and acquisitions, it is important, very, very important that our laws are harmonized.
“I advocate comprehensive legislation that will not just address the anti-competitive features of certain mergers and acquisitions but one that would address the appraisal rights of shareholders. For dissenting shareholders who do not want to go on with the merger activity, they should be able to seek court intervention in getting their shares bought out by the emerging entity on fair terms.”
The Vice-Chancellor of the university, Prof. Charles Igwe, who chaired the occasion, described Prof. Nwosu as “a woman of many parts, a good lawyer, a good academic, orator, woman of God and an administrator,” stressing that he had no doubt in her ability to deliver.
The highlight of the lecture was the endowment by Prof. Nwosu’s children for an award of N100,000 to the best graduating student every year in Corporate Law. They presented a cheque of N1million to that effect.
