Study On The Substantial Standard System Relevant To Examination Of M&A In The U.S.

In the recent years, the sixth Merger & Acquisition (hereinafter "M&A") tide which commenced in the U.S. rapidly sweeps the whole world, and nowadays M&A has already become a hot topic of discussion in the world economics. As everything has the dual nature, on the one hand M&A helps enterprises to enlarge the scale of production and operation, enhance the market competitive strength within a short time, on the other hand it inevitably expands the market shares of the involved enterprises, enhances the market concentrated ratio, and likely leads to monopoly or monopoly tendency. Therefore, the regulation of M&A has been a quite important part of the antimonopoly law in most countries. On the basis of detailed analysis of the substantial standard system of examination of the M&A in the U.S., this article will comment on the related institution of China and the Antimonopoly Law of the PRC newly issued in 2007, and puts forward some proposals.Besides the preface and the conclusion, this dissertation is divided into three chapters as follows:Chapter one mainly illuminates theoretic principles of the substantial standard of examination of M&A in the U.S. This chapter detailedly introduces the definitions of M&A and the substantial standard of examination of M&A in the antimonopoly laws of the U.S., analysis of the different attitude of the U.S. government towards three typies of Merger and two prime economic doctrines of the U.S. in this field and their influence on the legislation of M&A regulation.Chapter two mainly analyzes the laws regarding the substantial standard of examination of M&A in the U.S. during more than one hundred years, and then this chapter analyzes the substantial standard system of examination of M&A in the U.S in accordance with the related laws from six aspects.Chapter three mainly discusses about the inspiration from the substantial standard system of examination of M&A in the U.S. for the legislation of our country. There are two subchapters in this chapter: the first subchapter analyzes the provision of three current laws regarding the substantial standards of M&A examination, and concludes the deficiency of the current the substantial standard system of examination of M&A of China. The other subchapter contrasts the provision of Chapter 4 of the Antimonopoly Law of the PRC newly issued in 2007 with the corresponding provision of laws of the U.S., and then puts forward some personal proposals.