Squeeze-out of minority shareholders in public companies

Turkish law first recognized the right of squeeze-out with Article 27 of the Capital Markets Law numbered 6362. Squeeze-out often refers to the right of a controlling shareholder that has reached a certain control threshold to exclude other shareholders from the company irrespective of lack of just cause. Squeeze-out as it is provided under Article 27 has its roots in Anglo-american law. The importance of this right arises from both its legal and economic functions. Rules regarding the use of squeeze-out are provided by the Communiqué numbered II-27.2 on Squeeze-out and Sell-out Rights of the Capital Markets Board. This dissertation aims to analyze the right of squeeze-out and provisions of this Communiqué in light of comparative law, doctrine, and practice.