Legal Issues Of Anti-takeover On Foreign M&A

There is no doubt, M&A is a "double-edged sword",its positive significance for the state-owned economic performance in the strategic reorganization and industrial structure adjustment and upgrading and optimization and optimize the listed companies in China's ownership structure and improving the quality of listed companies, etc, and its negative meaning is in the lead to hinder the development of the enterprise in China, causing the loss of state-owned assets, the national industry and even threaten monopoly, national economic safety etc.Therefore, the author thinks that, at the national level, the government should pay more attention to purchase and validity legislation, strengthen the review, In the enterprise, the enterprise shall level overseas-funded hostile merger prevention measures and hostile takeover in face when using legal means to actively respond to correctly. However, due to the lack of legislation in our country at present, the validity of the theory of anti-takeover measures are British and U.S.companies such as the hostile takeover activity is very active, through a large number of countries and regions, the company acquisition of practice and related to judicial practice and gradually creating and developing. Due to the national culture and tradition, law, many anti-takeover measures, even if it is not tryed of different countries in the same field, with the legislation on anti-takeover measures case also differences.China's M&A market, capital is only ten years, or relevant regulations, new things in the market for most is mature the capitalist countries.Specific anti-takeover measures also are introduced, the most direct reference,therefore, legal or illegal, good and evil people mixed up. For specific anti-takeover measures, China's law is not clearly stipulated that what is standard, legal, what is illegal, and these measures, the applicable conditions of specific components and legal consequences. Based on the correct guidance should be listed companies in China, the validity of this position.