Anti - Monopoly Law On Transnational Mergers And Acquisitions

Over recent years, the concept of "economic globalization" becomes more and more familiar to us with the more frequent contact of the countries. The globalization of economy appears in many respects, such as the trade, the finance, the produce, etc. Under this background, there appears more and more transnational merger and acquisition (transnational M&A). The transnational M&A of this time has some characteristics: the number and the amount is large, the countries involved are more than before. And many countries had to make some adjustment accordingly.The author focuses on one issue that how the antitrust laws regulate the transnational M&A, studies the related legislation existed, and prospects the future of the international uniform antitrust law. Then, the author puts forwards some advises of his own and hopes to provide some useful enlightenment for the legislation of the antitrust law of China. In the same time, the author introduces the newest research of a foreign scholar who studies the WTO system and hopes to provide an alternative way to settle the disputes of international antitrust law.In the first part of this article, the author studies the concept, the characteristics, the present conditions and the effect of the transnational M&A, and declares the necessity of the studies of this article. The transnational M&A has much effect not only on the developed countries but also on the developing countries, so the developing countries, include our country, should make some adjustment to reply to the condition.The second part of this article concerns with the application of the antitrust law to the transnational M&A. The author studies the theory basis and the standard of such application. The economic theory basis of the application is the theory of the competition, and the theory basis of the science of law is the preventative effect of thelaw. On the standard of the application, the author proves the following point from the expansion of the legal monopoly and the development of the illegal monopoly: the antitrust legislation and policy is one of the ways that the economic authorities express their ideas, so it must conform to the economic developing strategy of country and the specified character of the time.The third part concerns with the regulation on the transnational M&A. The author studies the unilateral regulation, the bilateral coordination, the regional cooperation and the regulation of international uniform law. On the unilateral regulation, the author analyses the trend and the reasons of the antitrust law of the developed countries, studies and assesses the application of the antitrust law on the foreign lands. On the bilateral coordination, he puts the bilateral coordination between the United States and the EC as an example to introduce the present conditions of the bilateral coordination, and then assesses it. On regional cooperation, he focuses on cooperation of the countries of EC. At last, he analyses the feasibility and the difficulty of making an international uniform antitrust law, and then puts forwards the steps of building a system to regulate the transnational M&A under the WTO system.In the last part of this article, the author provides some ideas of his own about the issue that how China make use of the antitrust law to regulate the transnational M&A. On the one hand, we should think about both the domestic market and the international market when we regulate the transnational M&A of our own enterprises; and we should reinforce the control of the transnational M&A of other counties' enterprises. On the other hand, we should learn from the foreign countries to use the WTO system to settle the international antitrust disputes, and that is an alternative way.