Study On Legal Supervision On Anti-takeover Of Listed Company

Hostile takeover is the premise of anti-takeover.The basic intention of anti-takeover is to resist the operation of hostile takeover .Reasonable anti-takeover is helpful to mend the negative influence of hostile takeover.With the development of market-oriented economy and the activity of capital market in china,takeover and anti-takeover campaigns are becoming more and more drastic.Unfortunately,due to the "high proportion of state-owned stock" and "insider control" in listed company,it is more possible for majority or directors to abuse anti-takeovers. This will weaken hostile takeover to enhance the corporate governance and infringe the interests of the target company and the minority shareholders.Efficiently legal supervision can resolve this qustion.And it is the purpose of this article too.This article consists of four parts other than introduction and conclusion.In the first part it presents the development of anti-takeover in China and sets forth the lack in the legal supervision .In the second part it elaborates the theories about legal supervision and points out the need of implementation of legal supervision on listed company anti-takeover.In the third part it investigates and compares different kinds of legal supervision systems by contrast.In the final part it provides feasible suggestions for legal supervision on listed company anti-takeover in China.