International Coordination Mechanism In The Antitrust Review Of Cross-border Mergers And Acquisitions

With the development of economic globalization, the wave of transnational M&A is constantly promoting; as a result, the transnational M&A has replaced the "Green Land Investment" as the most principal international investment mode. Although transnational M&A is conducive to international operations, reducing foreign investment risks, enhancing its international competitiveness, its negative effects are very prominent on the other side. For example, it may leads to the international concentration and monopoly of production and sales, so that great number of consumers and some related countries'economy will be damaged.Therefore, most countries have enacted anti-monopoly law to regulate transnational mergers and acquisitions with monopolistic nature. But the problems such as the difference between national legislation and the jurisdiction conflict triggered by theextraterritorial application will lead to contradictions and conflicts when countriesand regions in accordance with national anti-monopoly law to regulate transnational M&A. In view of this, it is particularly important to construct the internationalcoordination mechanism of anti-monopoly in transnational M&A.This thesis starts with the basic issues related to international coordination of theanti-monopoly in transnational M&A; analyses and discusses the objectives and principles especially the choice of mode on the basis oflearning from the practices ofthe typical representative countries or international organizations. Then the authorputs forward her own proposals on how to construct the international coordinationmechanism of anti-monopoly in transnational M&A under the framework of WTO. Finally, the thesis further explores the necessity of China's participation in the international coordination and cooperation of anti-monopoly in transnational M&A and the specific ways of coordination and cooperation based on the foregoing analysis.The thesis consists of four chapters.Chapter 1:The basic issues involved in the international coordination of anti-monopoly in transnational M&A. The chapter mainly introduces the definition and the function of transnational M&A and further discusses the relationship between transnational M&A and anti-monopoly and also the relationship between transnational M&A and anti-monopoly law. Meanwhile, the chapter analyses the reason that why the international coordination of anti-monopoly in transnational M&A is badly needed from the view of four aspects.Chapter 2:The construction of the international coordination mechanism of anti-monopoly in transnational M&A. This chapter makes a number of suggestions on the objectives and principles of the future international coordination mechanism on the basis of the former research. Especially for the three models proposed by the academics, the author analyses their advantages and disadvantages one by one. As a result, the author suggests the most constructive mode.Chapter 3:The practice of international coordination of anti-monopoly in transnational M&A. This chapter selects the United States, the European Union, the Economic Cooperation Organization (OECD), World Trade Organization (WTO),International Competition Network (ICN), which are the most representative countries or organizations in bilateral and multilateral coordination, international coordination, and other aspects, introducing and evaluating their practice related to international coordination of anti-monopoly in transnational M&A. And the author expects to learn from the extraordinarily successful practice to set the foundation for international coordination mechanism.Chapter 4:The prospects and countermeasures on China's participation in the construction of international anti-monopoly coordination mechanisms in transnational M&A. The chapter puts forward specific proposals for China's participation in the construction of international anti-monopoly coordination mechanisms in cross-border M&A based on the current situation and development trend of Transnational M&A in China and China's legislative status.