A Study On The Tender Offer Of The Public Company In China

As one of the most important economic phenomenon in stock market, M&A constantly remain eyeball-catching. Compare to the world's mature economic entity M&A between public company in china have lots of problems. Focus on the methods of M&A between public company. We can find out that limited by several factors Tender offer as one of the main M&A method adopted by the enterprises in the world has not been popular in China and the researches in this field carried out by Chinese scholars are still mainly focusing on the theory perspective. After the "NanGang company" and "zhongxin VS guangfa" Acquisition cases happened in China in 2003 and 2004 , the research on tender offer was stepping onto a further stage that is case analysis. Base on the theory research of M&A from both overseas and Chinese scholars this Paper analyzes on the basis of motivation and efficiency of these tender offer cases. Compare to the differences in acquisition laws and activities between China and other countries this paper points out the limitation of the tender offer in china. After all, this paper brings up some suggestions about the improvement of the laws and the operation techniques in view of our specific national situations.