Primary Studies Of Legal Issues Of Listed Compan Anti-takeover

The most splendid attraction in the capital market of Year 2015 should be the battle of holding right between Baoneng Group and Vanke.Along with the consistent growth and vibrancy in Chinese capital market,the holding right battle between listed companies become even more fierce.In order to cope with more and more hostile acquisition,the listed companies come up with a variety of ways regarding anti-acquisition.Even though such kind of ways defeated hostile acquisition and held the controlling interest of management,there did exist the invasions to the interest of the listed companies,shareholders and other stakeholders.Therefore,it becomes even more important to know how to protect the interests of these groups as well as to rule such kind of anti-acquisition.However,when we look into the rules of Chinese anti-acquisition,we are so surprised to find so many weaknesses in all aspects.Hence,this article will do the concerning research through Ownership Battle of Vanke VS Baoneng Group,referring to the anti-acquisition laws in USA and UK as well as the practical condition of our country thus suggesting the perfection of laws in our country.More details are listed as follows.First of all,the article introduces the Ownership Battle between Vanke and Baoneng Group starting in 2015 getting to know more about the concepts of anti-takeovers.It lists the general measures of preventive and resisted anti-acquisitions,and analyzes the feasibility under our current law system by comparing the Case of Ownership Battle between Vanke and Baoneng Group and other relevant cases in the practice of our country.It also makes reflections to current situation together with legal system via the measures we discuss above.In addition,the article narrates the current situation of anti-acquisition law of Chinese,including the low efficiency;which objective the decision right of anti-takeover should belong to;the specific standards of lacking Director’s faith;the accountability system when against the responsibility;the low feasibility of anti-takeover in monotonous form and the incompleteness of relief mechanism in anti-takeover.It also proposes the detailed suggestions,containing:to set up rules first then enact gradually leading to the perfection of relevant system;to specify the belonging of anti-takeover’s decision right;to standardize anti-takeover measures and to determine standards judging whether it’s legal or not;to regularize the behavior of management and to develop the supervision role of independent directors;to construct the reasonable and effective judicial aid system.