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A Comparative Study Of The Anti - Monopoly Review System Of Transnational M & A

Posted on:2013-05-08Degree:MasterType:Thesis
Country:ChinaCandidate:H DaiFull Text:PDF
GTID:2176330434970433Subject:Law
Abstract/Summary:PDF Full Text Request
In recent years with the rapid development of China’s economy, cross-border Merger&Acquisitions (M&As) become one of the most important methods for foreign investors’entry into Chinese market. In the meantime, Chinese domestic companies are also using this opportunity to actively carry out cross-border M&A activities in order to improve its scale efficiency, market share, management system innovation and strengthen its market power in the world.The anti-monopoly review for M&A transactions, especially for the cross-border M&A transactions, is as always the focus of the anti-monopoly law by all countries in the world, and it lies in the core position of the anti-monopoly law. US and European countries are the regions with most active M&A activities in the world, and therefore equip with relatively complete legislation and practical experiences in the area of anti-monopoly review for M&As. The emerging market countries and regions are also promulgating or improving their respective anti-monopoly laws in light of their economic growth. China has recently promulgated and implemented its own Anti-Monopoly Law, which bears a symbol that China has made a significant step in the anti-monopoly legislation. However, China’s commencement of anti-monopoly legislation is relatively late; relevant detailed regulations are still not in place; and China still does not have sufficient experiences in anti-monopoly legislation, execution and justice. This article tries to (i) analyze and compare the substantial and procedural standards of anti-monopoly review for cross-border M&As contained in the current US, European and Chinese legislation,(ii) suggest the areas that China may use for reference from US and EU relevant laws and provide advices how to improve our anti-monopoly legal system.This article starts with a recent classical case with global effect, i.e. Seagate’s acquisition of the hard drive disk division of Samsung Electronics, and demonstrates that the cross-border M&A transactions cover so broad areas, involve so many party’s interests and bring so significant disputes. Then this article puts forward the purpose, meaning and the way to research the anti-monopoly review of M&A transactions. Chapter1of this article introduces certain basic concepts, such as "M&As","cross-border M&As" and "monopoly", as well as the relevant theoretical analysis. Chapter2introduces the anti-monopoly legal system of US and Europe countries and some emerging markets with most recent updates. Chapter3analyzes and compares the anti-monopoly laws of US, EU and China from both substantial and procedural perspectives. Lastly, Chapter4tries to provide advices as to how to improve our China’s anti-monopoly legal system by taking reference from US and EU’s relevant advanced legislation and practical experiences.
Keywords/Search Tags:M&A, Cross-border M&A, Anti-monopoly, Anti-monopoly Review, Concentration of Undertakings
PDF Full Text Request
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