Legal Research On Protection Of The Rights And Interests Of The Minority Shareholders In The Acquisition Of The Listed Companies

With the development of socialist market economy, acquisitions of the listed companies become more and more frequent day by day. Various subjects involved in the acquisition of listed companies which change the forces balance of the acquired company and the target company, management and shareholders, have a profound impact on the shareholders right and deeply influence on expectation and fulfillment of market corpus. Protecting the interests of investors in securities is the eternal theme of legislative and regulatory purposes. The legislation essence is how to dispose of the conflict interests of all subjects, seek a balance of interests in point. As source in the securities market, minority shareholder is the cornerstone of the development of the securities market, and plays a great role in the sustainable development of the securities market. If lack of minority shareholders' trust and investment which is the most important source and the most essential, will have not the prosperity and development of the securities market, investment and the economic development of the whole society will be weakened. This text aim to research how to protect the right of minority shareholders in the acquisition of the listed company, make some beneficial quests, in order to serve the reality demand of socialist market economy construction.During acquisition of listed company, the acquirer and the target company's management and major shareholders, faces a major hutment of the pattern of interests. Major shareholders to use its funds and information advantages, may harm the interests of minority shareholders for their own interests. With the growing separation of powers, company directors are increasingly becoming corporate operations center; Board rights increasing, in view of their own interests, they could also harm the interests of minority shareholders; acquirer is dominant in many areas, while the minority shareholders more dispersed, hold little stock, and little influence on management decisions, in addition to the information disadvantaged, often at a disadvantage and passive position. The minority shareholders often tend to be hurt. Therefore, live the status of the most vulnerable, minority shareholders of target companies are particularly concerned to law, are starting point of acquisition legislative Regulation and are the embodiment of fairness and justice, values, and ideology.How to protect the interests of minority shareholders in the company's purchase of legislation in many countries has become a focus of attention. In our legislation tend to encourage the acquisition, to promote development of economic, and hold a positive...