Listed Acquisition Of Legal Issues

Since the mid 90's, the rapid development of world technology and science, the trend of economical globalization has been more obvious, there is a consensus among multinational corporations, that is the only option all of they have to confront, whether to be dominators in their industry fields or to be defeated in the fierce competition. Merge and acquisition become an efficient way to rapidly develop and expand in a low cost for modern corporation. The Chinese state-owned business enterprise has undergone two leaps, converted from product production to commodity production and from mono-production to production management. However, they have to face the third leap which is from production management to capital management. Therefore, there will be great practical and profound meanings to research related laws about emerge and acquisition of listed companies. This paper includes preface, main body and conclusion. The preface is to demonstrate the aim of this research paper, and to point out several outstanding problems about the acquisition and emerge of listed companies. Four parts of main body is listed as following:Part I: General theory of acquisition of the listed company. After analyzing the concept and characteristics of acquisition of the listed company , the author make a depth study on the value of acquisition of the listed company . The author think that acquisition is to get the controlling power of one's listed company by holding and buying the shares of the listed company from the share holders . In china ,the government is encouraging acquisitions and losening the restrict on acquisitions ,and making reasonable restricting on the measures of anti-acquisition.Part II : The information disclosure system of acquisition . This part main characteristic of the part is adoption of comparison research method. The author discuss the main content of information disclosure in the case of takeover of listed companies ,which includes warning information disclosure system ,information disclosure system of takeover ,information disclosure system of anti-acquisition .Then the author tell the problems of information disclosure system in our country and the resolution to these problems . In the opinion of the author, as to information disclosure , there should be difference between circulating shares and uncirculating shares . Second the revealing procedure need to be perfect further .Third ,our country should actively build up the information disclosure system of anti-acquisition.Part III:The system of mandatory tender. During the part ,the author introduce the content of mandatory tender system ,for example the characteristics ,the conditions ,going into effect and so on ,then make a depth study.Part IV: Civil compensation system of acquisition . At the beginning of this part ,the author prove that it is necessary to build up the civil compensation of acquisition . The impartial principle and marketplace inspection and opening policy ask for the civil compensation system of acquisition. Then ,the author analyze the difficulties of the civil compensation system .Finally ,the author offer some suggestion to perfect the civil compensation system. They are "direct legal action system" ," the priority of civil compensation "and "adding civil compensation lawsuit form".