On Legal Regulation Of A Hostile Takeover

Hostile takeover is a kind of market behavior; the company wants to reachagreement with the acquired company's stockholders instead of with thecompany's management level. Hostile takeover always is a concerning topic incommercial field. Following perfect legislation of hostile takeover especiallyreducing state's stake in listed companies and all-round circulation, in theprocess of building a complete socialist market economic, hostile takeover willhelp to outer enterprise supervision, purify market and eliminate stubbiestenterprise. However, hostile takeover is on the threshold in our country, it hasmany open and burning question in the law regulation.On the basis of above reasons, the dissertation "Legal regulation of hostiletakeover", which centers on the basis hostile takeover content and itsmechanism of law regulation, is divided into four sections:The first section deals with the definition of hostile takeover. The authormostly expounds the generation and operation of hostile takeover. On the basisof above discussion to further discourse the meaning of hostile takeover. Andduring comparing relative concept, the hostile takeover characteristic isobvious.The second section is on the mechanism of hostile takeover. The authormakes value analysis on the hostile takeover, and believes although hostiletakeover has its problems, it should be stimulated in its process of development,and the author summarizes the principle of hostile takeover.The third section surveys the different legislation on hostile takeover athome and abroad, followed by some comments on the legislation.The last section probes into some challenging questions, such asinformation disclosure, protection of minor stockholders, anti-takeover,anti-monopoly, etc. It also puts forward some suggestions on the perfection ofthe legislation and regulations on hostile takeover.