A Research On The Countermeasure For Anti-takeover Of China's Listed Companies

According to foreign experience, the number of company takeover will increase greatly as the quickly improvement of national economy. Our economy improvement greatly in recently years which means that a new round of company takeover will come forth. So is the fact. Since our country's first company takeover happened in 1993, the number of company takeover increases greatly every year. Acquisition becomes one of the useful ways to expand its size. However, hostile acquisitions hold a considerable proportion. Companies face more and more seriously hostile acquisition .Once a company confronted with hostile acquisition, adopt anti-takeover strategy is one of the wise ways to keep the company independent. The problem is that the research on anti-takeover in our country is inchoate. There are many drawbacks on anti-takeover practice. Listed companies still have not constructed an effective anti-takeover system. The legislation of our country is not perfect, laws even controversial with each other. On the basis of foreign anti-takeover theories, this article focusing on theories and cases of our country. Based on the analysis of anti-takeover cases, this article tries to find out the limitations on the implement anti-takeover strategy and legislation. This article also tries to give advices on legislation and companies how to construct anti-takeover system.