Legal Issues Of Foreign Mergers And Acquisitions Of Listed Companies

In recent years, listed companies' M&A by foreign investors is a hotissue in the development of our economy. This is partly because of theeffect of the integration of global econmy and the fast developing domesticmarket which has been more and more attractive to foreign investors. Butwe have to see the opportunities and risks of listed companies'M&A tocoexist. Compared to the practices of the Foreign Capital M&A, theconcerning legislations are relatively lagged behind. Therefore, it is quiteimportant to study and analyze the legal problems of this issue. Thepurpose and the significance of this article mainly focus on the presentsituation, inadequate legislation and the risks of listed companies' M&A, so as to supply references to the law makers and also to the managers andoperators of domestic enterprises.The article includes five parts.The first part is about the basic problems of listed companies' M&Aby foreign investors. At first, it discusses the conception of Foreign CapitalM&A. After that it analyses the present of listed companies' M&A.The second part is about the Foreign Capital M&A's specific waysand the significance. First it analyses the specific ways of the ForeignCapital M&A, and then it analyses the significance of the Foreign CapitalM&A.The third part is about the basic principles of the Foreign CapitalM&A and risk issues. First, it analyses the basic principles of listedcompanies' M&A, and then it analyses the risk issues.The fourth part is about the present situation and defects on ourlegislation that regulates the Foreign Capital M&A. First, it analyses ourcurrent legal system about the Foreign Capital M&A, then it analyses theirlimitations and drawbacks.The fifth part is about the perfection of our legal system. First, takingAmerica, Germany, Japan for example, it introduces the foreign regulations, summarizes their experience to make reference for our legal system. Then, it gives proposals to perfect our legal system.