Hostile Takeove Of Listed Companies And Anti-takeover Research Under The Full Circulation

With the split share structure reform-depth development of China's securities market is gradually full circulation era, securities market regulation, market structure and legal framework have also undergone a major change. This means that listed companies on the acquisition and anti-acquisition will certainly change, especially in the system of flexible small and medium-sized board market anti-acquisition problems should be highly concerned. The acquisition, in particular the hostile takeover, and management is not a direct relationship, the most easily lead to the strong opposition of management. Management will usually various anti-takeover measures to impede the realization of a hostile takeover. How to judge the various anti-takeover measures on the pros and cons as we should face the issue.In this paper, under the full circulation around the hostile takeover of listed companies and anti-takeover issues, from both theoretical and practical aspects of the system. The main content of the article is divided into six parts. The first part of the article for the introduction describes the background, purpose, method and difficult and innovation. The second part describes the anti-hostile takeover and acquisition of basic theory and international experience. The third part of the listed companies on China's anti-hostile takeover and acquisition of performance characteristics, as well as statistical analysis and monitoring of listed companies. Part IV introduced the anti-takeover strategy, the existing anti-takeover legal framework and the scope of application. Part V of the listed companies on China's anti-takeover attempts, and the analysis of case studies. Sixth on the part of our anti-takeover legislation and related policies to improve the regulatory system, legislative, regulatory and judicial aspects of the sumThis article is aimed at listed companies and anti-hostile takeover of the acquisition of the study and standardize the acquisition of listed companies so as to protect the healthy development of securities markets.