The College of Law at the University of Baghdad discussed a dissertation entitled “The Impact of Mergers on Rights Holders in Public Companies: A Comparative Study,” submitted by doctoral candidate Murooj Abbas Mutlak, in the Private Law. The discussion was held on Sunday, August 23, 2026, in the Conference Hall.
The discussion committee consisted of the following professors:
Prof. Dr. Akram Mohammed Hussein — Chairman
Prof. Dr. Haifa Muzhir Fathi — Member
Assist. Prof. Dr. Raad Hashim Amin — Member
Assist. Prof. Dr. Hadeel Saad Ahmed — Member
Assist. Prof. Dr. Andalus Hamid Abdul — Member
Prof. Dr. Ali Fawzi Ibrahim — Member and Supervisor
The dissertation aimed to examine the legal effects arising from the merger of a public company on the rights of stakeholders associated with it, and to analyze the adequacy of Iraqi legislation in providing the necessary protection for these rights when a merger takes place. Accordingly, the dissertation sought to present an integrated legislative vision that would contribute to developing the Iraqi legal framework governing the merger of public companies, ensuring a balance between the requirements of economic efficiency and public-sector restructuring on the one hand, and the requirements of legal certainty, stability of legal positions, and protection of rights holders on the other.
The dissertation consisted of three chapters. Chapter One examined the nature of mergers in public companies. Chapter Two addressed the impact of mergers on rights holders in public companies. Chapter Three examined selected applications of public-company mergers in Iraq and comparative experiences.
The dissertation concluded with several recommendations, the most important of which were:
First: The Iraqi legislator should subject the company resulting from a merger to enhanced regulatory oversight during the first two years from the date the merger takes effect. This would be achieved by activating the role of the competent regulatory authorities and periodically monitoring the company’s financial and administrative performance indicators.
Second: The Iraqi legislator should adopt clear rules governing the legal effects of mergers, thereby achieving a balance between protecting employees’ acquired rights on the one hand and the economic-efficiency requirements of the resulting company on the other.
Third: The Iraqi Public Companies Law should expressly grant creditors the right to object to a merger within a specified statutory period beginning from the date the merger decision is published or announced. This right constitutes one of the most important preventive mechanisms for protecting creditors, as it allows them to assess the potential effects of the merger on their legal positions.
