Regulation On The Cross-border M&A Under Antitrust Law

Along with the rapid development of the economic globalization, Cross-border Merger and Acquisition (M&A), as a kind of effective mode of spontaneous expansion gets more and more emphasis. The global M&A wave rises continuously, accelerating the progress of the industrial globalization, and remodeling the global industrial structure. As one of the major ways of international investment, the Cross-border M&A brings many active influences for the international market, in the meantime it also forms certain threat for the market. Therefore, the regulation of the Cross-border M&A has become a very important basic content in antitrust legal system in many countries. Because of the international attribute of the Cross-border M&A, the domestic competition law can not regulate it well, and the international competition law is not perfect, even the international unified competition rules with binding force are blank. It is necessary and urgent to research the international unified rules regulating the Cross-border M&A. This paper researches the problem of the anti-trust law regulation on the Cross-border M&A from an international harmonization standpoint by using the research methods of comparison, analysis and illustration.The paper takes the concept of Cross-border M&A and its present condition as the first part, summarizing the cross-border character of the Cross-border M&A and the feature of transference of control power; Analyzes the influence of the Cross-border M&A on the international market further. It may inform the monopoly in the international market; Contrasts the M&A rules in the United States, Japan, EU and China, pointing out the convergence of them; analyzes the current international cooperation about regulating the Cross-border M&A and the achievements of the international organizations, laying foundation for the establishing of the international unified rules; in the end of the article, the writer analyzes the feasibility and necessity of international unified regulation on the Cross-border M&A and puts forward concrete system envisages that building up the double level of international—national regulating authorities, and establishing the unified system of regulation rules to realize the international unified regulation on the Cross-border M&A.