The Legal Obstacles Of Cross-border Mergers And Acquisitions For State-owned Enterprises

With the swift economic development, new enterprises in host countries has beenreplaced by cross-border mergers and acquisitions，which has been a very important economicevent internationally. Although transnational mergers and acquisitions have been promotingthe economic development promisingly, the increasing issues have appeared during theprocesses of transnational mergers and acquisitions. State-owned enterprises are main forcesin transnational mergers and acquisitions which have the superiorities in both the scale andthe amount of transactions unmatched.This text focuses on probing into the legal impediments and the related measures duringstate-owned enterprises’ acquisitions will provide a series of methods to push forward thedevelopment of transnational mergers and acquisitions scientifically and feasibly. There arefive parts in this thesis. The first one is to introduce the background of transnational mergersand acquisitions and to elaborate the text’s purpose, its meaning, innovative parts and itspractical meaning. The second part is to explain state-owned enterprises and analyze themeaning and the types of cross-border mergers and acquisitions. This part will focus onstate-owned enterprises that are on behalf of Chinese enterprises to probe into the legalimpediments existed in the process of cross-border mergers and acquisitions. The third part isto search into the environment of cross-border mergers and acquisitions systematically. Thecourse of China’s cross-border merger and acquisition has been divided detailed by stages. Bycomparing the laws existed in China with the one of developed countries in this field, it helpsChinese laws to be mature increasingly. The fourth part is to analyze the legal impedimentswhich come from the government, the enterprises themselves and foreign countries in recentcross-border mergers and acquisitions thoroughly and find out the root of these barriers ascomprehensively as possible. The last part is to propose the related measures to solve theseproblems. In order to help China’s enterprises preceding its cross-border mergers andacquisitions successfully, this part also focuses on the macroscopic view of the governmentand enterprises themselves, which may provide measures to encountered the barriers and risksin the process of cross-border merging.