According To The System Of The Listed Company Takeover Offer

Listed companies, the acquisition of the tender offer is an important componentof the system, it is the first British in the1950s occurred in the acquisition of listedcompanies in the system during the interests of small investors has been maintained toprotect the tender offer system in the capital markets effectively. Research anddevelop China’s actual situation and have some guiding companies offer to acquire thesystem is particularly important. And an agreement to acquire compared to operatingprocesses and procedures in the tender offer is very complex. Must pass in order toachieve a number of steps to be able to reach, so the acquisition agreement to acquirethe relatively low human cost of the tender offer’s cost is relatively higher. China’s"Securities Act" introduced to determine the acquisition tender offer acquisition oflisted companies in China to become the main form."Securities Act" provisions of theacquisition of listed companies, the acquisition of listed companies in the tender offermay have some operational, in the past China’s legal environment it is impossible toachieve and complete. Tender offer is the most representative of acquisitions, so allcountries have the world’s securities law aspects of the acquisition of the coreidentified as the tender offer, emphasize its purpose of our laws are here. At presentthe most important issue our securities laws is to strengthen the rule of law, establishand perfect matching of laws and regulations, provide for the acquisition of listedcompanies on the necessary legal basis for listed companies to improve the actualoperational tender offer, the securities tender offer on the market to carry out acts ofreality. Keep a reasonable policy recommendations to improve China’s acquisition oflegal environment, and promote China’s capital market effectively.