A Study On Information Exchange And Premerger Coordination With Respect To Transnational Mergers In Different Fields

With the frequent integration of resource in Merger and Acquisition, takeover trends between cutting-edged technologies are more and more obvious in the Merger fever. Essentially, the integration of Merger and Acquisition has changed business form and Corporation control to some extend, whether in assets exchange, stock rights or new company establishment. This article introduced the strict rules of HSR in connection with the information exchange, as well as the rules of improper competition limitation under Sheron Act and FTC Act. Further, it discussed the legal risk of information exchanging and premerger coordination to the transnational companies. The advantages of the array of rules are efficiency in antitrust examination and low in merger cost. It is one of the merger risks during the period before success with respect to M&A in Amercia. The declaration system shows references to China’s antitrust law-making and execution. This essay focused on transnational mergers and acquisition in different fields, and introduced the rules of premerger coordination and information exchange under the American law. The first part of the essay mainly discussed the motive of merger and acquisition in the transnational takeovers with economical theories and general traits of merger. The second part made clear of the rules of premerger coordination and information exchange under American law, which laterally analyzed the possibility and legality of information exchange in merger activities. The third part of the essay takes Microsoft case as an example to explain the features and risks of transnational merger. The last part of the essay states the status quo of foreign merger laws of PRC, making a conclusion on disadvantages of the laws, and suggests to taking the advantages of American law which has positive effects on antitrust execution. Last but not least, the author makes suggestions on understanding of rules of information exchange and risk-control through analyzing issues confronted with Chinese corporations.