5.1 Report of the management
The corporate representatives of the merging companies must prepare, together with the common draft terms, a report on the proposed cross-border merger for the shareholders of the company, justifying the legal and economic aspects of the cross-border merger and explaining the effects of the merger on the shareholders, creditors and employees. In the case of a merger of stock corporations, the report must contain the ratio applicable to the exchange of shares and any special difficulties which have arisen during the preparation of the report, if any.
