ACCO Brands acquires Trust.

The people side in the Netherlands

• A Dutch company with 50 or more employees has a works council with a formal advice right on a transfer of control. Works Councils Act (Wet op de ondernemingsraden), articles 2 and 25
• Where 50 or more people work in the Netherlands, the SER Merger Code has unions informed before announcement and agreement. SER Merger Code 2015 (SER-Fusiegedragsregels 2015), articles 2, 3 and 4
• Vital providers and sensitive technologies add a Vifo Act review of eight weeks, which can be extended by up to six months. Investment, Mergers and Acquisitions Security Screening Act (Wet veiligheidstoets investeringen, fusies en overnames), article 12
• A foreign employer without a Dutch entity must normally still register to pay Dutch social insurance premiums. Business.gov.nl: National and employee insurance schemes (Dutch social security)
• In an asset or business transfer, staff move to the buyer on their existing terms and collective agreement; the seller stays jointly liable for one year. Business.gov.nl (Ministry of Social Affairs and Employment): Company takeover and employee rights
• Where the deal needs EU merger clearance, the buyer may not implement it before clearance. EU Merger Regulation (Council Regulation (EC) No 139/2004), article 7