Study On Mergers And Acquisitions And Anti Merger Of Listed Companies In China

With the continuous development and improvement of market economy,in order to optimize resource allocation and improve the utilization rate of resources,the mergers and acquisitions of listed companies in China is becoming more and more serious in the market economy activities.The mergers and acquisitions of listed companies related to the stable operation of the national economy,in view of many problems in the process of mergers and acquisitions of listed companies in China,may lead to industry monopoly between phenomenon and damage the legitimate interests of the other main body,etc.,this caused many negative influences on economic and stable operation.In order to better regulate the behavior of listed company merger and acquisition in our country,set up complete company mergers and acquisitions law system is necessary,in our country at present of listed company merger and acquisition related laws are "securities law",the company law,the measures for the administration of the takeover of listed companies and the measures for the administration of material assets reorganization of listed companies and so on,but with poor operability in practice,the legal system is not perfect.Therefore,the mergers and acquisitions of listed companies in China not only requires the government departments to strengthen the supervision,but also should regulate from the legal level.Thousands in 2015,the "treasure" is China's capital market development in the process of the landmark event,through the treasure with vanke,for the case of equity,analysis the legal problems in the process of mergers and acquisitions of listed companies in China,combined with thousands "treasure" the event development process,This paper analyzes the legal issues of the source of funds,information disclosure,counterpurchase,and the identification of the unanimous action.At the same time,from the perspective of the target company,the lack of the company's own anti-acquisition awareness and the ownership decentralization and the company's articles of association have also contributed to the evolution of "the battle of baowan".Based on the analysis of the case of "treasure war",this paper gives a reasonable response strategy to the problems existing in China's capital market merger and acquisition.In this paper,the author puts forward some Suggestions on how to deal with hostile takeover and anti-takeover strategy in China.At present,the legislation theory of the merger and acquisition of listed companies in China is far from suitable for the development of social practice.In this paper,through the case specific analysis,combining the current situation of foreign mergers and acquisitions of listed companies as well as the relevant legal provisions,find out the problem of our country listed company merger and acquisition law,also can draw lessons from foreign mature experience.For the merger and acquisition of listed companies in China,we should not only find the successful experience,but also summarize the lessons of failure,enrich the legal theory of merger and acquisition of listed companies in China,and better serve the social practice.