On Protection Of Minor Shareholders In Tender Offer In China

Takeover offer for listed companies is the universal way to take over listed companies in modern company's system.In the process of taking over the listing company,minor shareholders are always in the inferior status.Protection of minor shareholders' rights is an important value objective of system of takeover.How to standardize takeover offer for listed companies for protecting of minor shareholders benefit is the problem that legislation will solve and that should also be paid attention to on judicial practice.Relatively typical type of takeover by offer appeared in capital market,the protection of minor shareholders'interests in the target company has become the purpose of legislation and added some protected measure of minor shareholders'interests,but the expected goal has not been achieved completely.So it is necessary to establish a perfect system to protest minor shareholders'interests in the target company.So we should learn more from precedent experience of legislation and perfect the relative laws and regulations on tender offer, strengthen the protection to minor shareholders,equipoise the rights and obligation of all interested parties in tender offer. Only by this can our takeover by offer develop healthily and minor shareholders'interests can be protected.The article expounds the necessity and specific measures of protecting shareholders'benefit in takeover offer for listed company, and makes some suggestions of improving legislations of this respect.