By Raphaël MORENON
6 June 2025
Concerted action is a central concept in business law, often perceived as technical and reserved for large-scale financial transactions. However, it is a mechanism whose purpose and implications go far beyond the stock market and go to the heart of company law. Concerted action occurs when several individuals or legal entities coordinate their actions to implement a common strategy with regard to a company. Understanding this mechanism is essential for any manager or shareholder, as such a qualification carries significant legal and financial consequences, particularly in terms of transparency, security on the financial market and the acquisition of control. The difficulty often lies in identifying such behaviour, which is not always formalised in a written contract. The aim of this article is to demystify concerted action, from its legal foundations to its practical effects. We will look at how the law understands the...
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