A Research On Anti-takeover Of Listed Company Strategy For BaoNeng And Vankebased On Control Rights Fighting

The beginning of the battle between the Wanke and Baoneng is bound to be a classic case of the cross-epoch significance in the development of China's capital market?This is not just because vanke is the bridgehead of one of the best real estate companies in China and the world?More importantly,the case due to mergers and acquisitions object is based on the management team,headed by wangshi is the dispute of equity into vanke should abide by the rules of the game of equity capital market is the highest,or should I give to venture entrepreneur's human capital investment fully inspire debate?In the 1980 s,the wave of mergers and acquisitions experienced by the United States of America undoubtedly brought important thinking to the theory and practice of corporate governance?The poorly run management team was fired,and the target company's takeover became an important external governance mechanism for corporate governance,forcing the management team to work hard.However,external takeovers are also at risk of hostile takeovers,with hostile acquirers implementing control of the company,and the enterprising entrepreneurs of the artisan who will be swept out of the house.However,this hostile takeover will eventually affect the company's long-term business and undermine the interests of the target company.Therefore,if there is no appropriate threshold for hostile takeover,it will not only frustrate the enthusiasm of entrepreneurial entrepreneurs,but also hinder the development of social economy.Today,China's capital market has quietly stepped into the era of share decentralization.From vanke's share battle to Nanbo' "bloodbath" incident occurred,has prompted many equity scattered to the executives of shareholders of listed companies in response to hostile takeover company should be how to governance of panic.So how should we deal with hostile takeovers in the context of today's "capital king" ? Based on the study of hostile takeover and anti-takeover of listed companies in our country,on the basis of basic situation,combined with our country economy and the legal environment,in view of the present situation and future trend of development of the listed companies,from corporate governance,law and stock trading three areas to study the response measures of hostile takeover.It also puts forward some Suggestions and Suggestions on how to deal with hostile takeover.