The Rearch Of Legal Regulation On Transnational Mergers And Acquisitions

Since the middle of last century, transnational mergers and acquisitions in the host country gradually replaced the traditional method of establishing new enterprises directly and became an important component of international economic activities. Recent years, the wave of global mergers and acquisitions has greatly promoted the development of direct international investment. At the same time, transnational M & A activity has also brought many economic, social and legal problems and has received attention by the international community. Since 2008China M & A activity increased significantly in the background of the global financial crisis. How to use laws to protect against the risks posed by M & A has been a great task for our government. At present, there are obvious deficiencies in current system of legal regulation of transnational M & A in China. So it is very necessary to improve the legal system of M & A in China referenced to advanced international experience. This paper tried to provide a set of rational and workable principles of law for the establishment of a scientific system of legal regulation of transnational M & A based on systematical and theoretical research. In this article, a systematic, comprehensive and in-depth study on legal regulation of domestic and transnational M & A theory has been made mainly by comparative analysis and put forward concrete legislative proposals.This article is divided into five parts:The first chapter is an overview of transnational M & A. The author first analyzes the concept of transnational M & A, and then further analyzed the type, nature, causes, current status and development trend of transnational M & A. The second chapter analyzes the legal risks of transnational M & A. The author mainly takes "Geely Volvo merger" case to analyze the general law risk of transnational M & A and take "CNOOC acquisition of Unocal," as an example of additional legal risks of transnational M & A.The third chapter is devoted to the basic principle of legal regulation of transnational M & A. This chapter described the need for transnational M & A regulations and values from the perspective of jurisprudence and are introduced the principle of specific legislation in order to achieve compliance with these values.Chapter IV describes the legal regulation of transnational mergers and acquisitions. In this chapter, the author makes a comparative study from domestic law, regional law and international law, to make a reference to the legislation of China.Chapter V is about the legal regulation of China's transnational M & A and which the focus of this article is. Many legal deficiencies are pointed out about regulations of the law of China's transnational M & A by analysis of the current situation and the legal system of China. Corresponding legislative proposals to these deficiencies are finally given.