A Study On The Issues Of Legal Control On Company Acquisition

The first part is an introduction of the legal control on company acquisition.Firstly, we have discussed the concept and characteristics of company acquisition. Secondly, we have summed up the characteristics of company acquisition in the US and UK.In the second part we have discussed on the legal control of curb acquisition.Firstly, we have illustrated the legal status of curb acquisition and introduced the characteristics ofcurb acquisition system in the US and UK.Secondly, we have introduced the characteristics of curb acquisition activities in our country andsummed up the characteristics of the curb acquisition system in our country.Finally, we have provided some suggestion on the curb acquisition system in our country: 1. tosatisfy the requirements on information disclose by large-sum stock investors; 2. to increase thedisclosed information; and 3. to establish a curb acquisition exempt system.In the third part we have discussed on the offer acquisition legal control, especial thecompulsory offer acquisition.Firstly, we have introduced the concept and characteristics of offer acquisition.Secondly, we have introduced the content and characteristics of compulsory offer acquisitionsystem.Thirdly, we have introduced the discussions on the existence of compulsory offer acquisition.We hold that in evaluating whether it is reasonable to establish the compulsory acquisition systemand whether the compulsory offer acquisition system is effective, following objective conditionsshould be taken into consideration: 1. the legislation background of formulating the system; and 2.the whole company security legal environment.Finally, we have provided some suggestion on completing the compulsory offer acquisition regulation in our country: 1. to cancel the regulation of "continuing acquisition"; 2. to establish a classified compulsory offer acquisition system; 3. to increase the disclosed information; 4. to ensure the target company shareholders to be equally treated; 5. to complete the acquisition process and acquisition methods; 6. to clarity the rights and obligations of the target company board of directors in company acquisition; 7. to strengthen the protection shareholder's benefits of offerers; and 8. to complete the compulsory sell system.In the fourth part we have discussed the legal control on agreement acquisition. Firstly, we have elaborated the characteristics of agreement acquisition. Secondly, we have introduced the foreign agreement acquisition regulations.Thirdly, we have introduced the agreement acquisition measures and the characteristics of agreement acquisition system.Finally, we have provided some suggestions to complete the agreement acquisition regulations in our country: 1. to make proprietary shareholders to undertake trust obligations in agreement acquisition; 2. to satisfy the requirements on information disclose; and 3. to allow to purchase circulating stocks of listed companies according to agreement.We concluded that only by completing acquisition regulations, can the acquisition market in our country healthily develop.