Anti-takeover Case Study Of Sion Life Insurance Co.Ltd Purchase Of Shenzhen Agricultural Products Co.Ltd

The rapid development of economy makes the world market economy globalization unified, for the acquisition of the listing Corporation and the fierce confrontation of anti-takeover to create the condition, also contributed to the formation of the market of control rights. As is standard purchase of imperfect corporate governance, to be marked share holding company has become the main objective of struggle for the right of buyers. Since China joined the WTO, positive response of the market circulation, letting go of control of the state-owned listing Corporation, so that these companies are involved in the development of healthy competition in the market, but also some enterprises to look at fiercely as a tiger does on these good development state holding listing Corporation, attempt to the acquisition and possession of resources. In the face of various intentions acquisition, the listing Corporation in order to prevent the transfer of corporate control rights, maintaining strategic stability, have to take anti-takeover measures to deal with. China’s listing Corporation also made a response to this situation, but because the market mechanism in China is not mature, imperfect corporate governance, anti-takeover actions for passive. Because of China’s anti-takeover cases gradually increased, but the related research is less, so there is an urgent need to study our country the listing Corporation’s anti takeover cases guiding the healthy development of China’s listing Corporation.This paper focuses on the control of the company for the use of case study method, the non-listed company in the acquisition of state-owned listing Corporation problem. The real case of Sino Life Insurance Co.Ltd acquires of Shenzhen Agricultural Products Co.Ltd, combined with the the relevant theoretical analysis an important motivation of takeover and anti-takeover, and combined with China’s current "company law" and "Securities Law" and other relevant laws and regulations to improve the corporate governance and use of anti-takeover strategy proposed feasible.In this paper, the study found that Shenzhen Agricultural Products Co.Ltd is not set up perfect anti-takeover strategy against the acquisition in the process of corporate governance, especially not set up preventive strategies, in the face of the acquisition when only the use of "shark repellent" and the stock repurchase strategy, so the most important part of this paper is the combination of the relevant laws and regulations, put forward feasible anti-takeover strategy of Shenzhen Agricultural Products Co.Ltd. for example, restrictive clauses, set the parachute, white knight, for litigation, lobbying the relevant departments and other policy settings in the articles of association, and then extended to the state-owned listing Corporation. Therefore, this paper focuses on the application research, different from the general academic research, for the same type of company takeover and anti-takeover of reference and practical significance, has stronger.The takeover and anti-takeover cases have raged, the state-owned listing Corporation’s anti-takeover is a reference value.