Study On The Imposing Restrictive Conditions In Business Concentration

With the development of China's enterprise and the diversification of financing channels,a lot of enterprise merger and acquisition to achieve the expansionary development with the encouragement of our country.In the field of anti-monopoly law,from the point of the enterprise development,business concentration is one of the important ways of realizing enterprise development,it can be acquired various resources through the short time which are need to be a long-term accumulation.Business concentration may lead to exclude or restrict competition,it will cause the greatly damage of the market structure,and threat the market competition order and endanger the whole economic order.Imposing restrictive conditions is a kind of important means if control system of business concentration,it Plays an important role in the maintain of the normal order of market competition and the protection of the interests of consumers.It has an irreplaceable value in anti-trust legislation.Therefore,about the business concentration,we can't banned it simply,and also can ignored the adverse impact of the market competition.Imposing restrictive conditions has the extremely important research value in the problem that how to control of the concentration effectively.The researches on anti-monopoly of our country is started relatively late,imposing restrictive conditions of the business concentration is also obtained certain attention in in recent years.<Provisions for Imposing Restrictive Conditions of the Business Concentrations(Trial)> integrate the related legislation and implementation rules of the additional restrictive conditions,and make more development and perfection.NXP&Freescale merger is the first case after the trial regulation.This paper choose three representative cases,NXP&Freescale,Nokia& Alcatel-Lucent,Thermo Fisher& Liffey,based on the case facts deep analysis on the merger of enterprises from all directions,such as the influence of competition in the market,determination of the imposing restrictive conditions,information disclosure,efficiency and authority of the approval,thinking about the shortcomings in imposing restrictive conditions on the basis of the present legislation in our country started with the merger.The cases reflects the advance of the legislation of the imposing restrictive conditions,such as the standard of the divested businesses and the purchaser.But at the same time,this merger is also reflect the shortcomings of the imposing restrictive conditions.These problems are still worthy of our thought.The merger shows the shortcomings of legislation in our country,it mainly performance in the legislation and the implementation of two levels.On the legislative front,the related legislation is still not perfect.The Trial Regulation has been specifically regulated in the structural condition,but lacks actual practicability.Hence,the article analysis the deficiencies of the restrictive conditions from the legislation and implementation.From legislative angle,the standard of the divested businesses and the purchaser is still not clear enough.From implementation angle,imperfect supervising system and information disclosure and so on.This article is problem-oriented and aim at solving concrete problems,deeply analyze the shortcomings of the legislation and the implementation of imposing restrictive conditions.On the basis of cases study and analysis of questions,and the premise of fully affirmed the value of restrictive conditions,according the study of the European Union and the United States of the related system to perfect our legislation.The development of anti-monopoly law in The European Union and the United States is started earlier and have rich experience in cases.Over the years,the US and Europe has established a relatively perfect system of the imposing restrictive conditions.It has rich experience of the restrictive conditions in system legislation and implementation,and created a lot of great significance system.For example,guidance documents based on the cases,and the Interactive information disclosure,is worth our country to draw lessons from.On this basis,this article further discusses the general theory of restrictive conditions based on the merger and legislation.Based on the shortcomings and the value of the imposing restrictive conditions,make use of the experience of the US and Europe,this article is trying to gives suggestions for the perfection of imposing restrictive conditions in China.Under the guidance of the above research purpose,In this paper,I will study the imposing restrictive conditions through using of literature studies,interviews,and comparison and other methods and means.The first chapter of the paper concentrates on the three merger cases,analysis the shortcomings of the imposing restrictive conditions from the legislation and the implementation while affirmed the legislation advancement.The second chapter is focus on the comparative research of the European Union and the United States of the imposing restrictive conditions to obtain revelation to the restrictive conditions of our country.The third chapter detailed discusses the general theory of the imposing restrictive conditions in detail,deep analysis the value of the imposing restrictive conditions.Fourth chapter is focus on putting forward the improvement of the imposing restrictive conditions from the aspects of legislation and implementation,In order to promote further development of imposing restrictive conditions system of our country.