The Research In Chinese Enterprises’ Cross-border M&A Review System

With the rapid development of economic globalization, Cross-border Merger and Acquisition(Cross-border M&A), as a means of optimum distribution of resources, has been favored by more and more enterprises, through which they can obtain advanced technologies, management experience and broad market. Therefore in china where reforms and openness are deepening and Going-Out strategy is being fully implemented, more Chinese enterprises begin to use this means(Cross-border M&A) to strengthen their competitive force and to expand their market. Meanwhile, M&A targets begin to expand from the original surrounding countries to the west world, among which America, a developed capitalist country, is especially favored by Chinese enterprises because of its vast outstanding enterprises and broad market. There are many successful cases. For example, Shineway has purchased Smithfield Foods, and Lenovo has purchased X86 server business of IBM. However at the same time, there are failures, most of which are due to their lack of emphasis on the relevant legal issues. So in this paper, the writer will analyze the legal issues like antitrust review system and national security review system in China and America through a successful case in which Lenovo has purchased Motorola Mobility. What’s more, the effect of relevant market, conductivity principle and intellectual property in related review will also be analyzed, combined with cases.This paper includes four chapters. Chapter one is about an introduction to Cross-border Merger and Acquisition, including its concept, the development and achievement of M&A in our country. Besides, the case where Lenovo has purchased Motorola Mobility will also be briefly introduced.Chapter two is about antitrust review system in China and America. This chapter includes two parts: The first part is mainly about the three small parts: the standard of antitrust review in these two countries, their procedures, their attached restrictive conditions. The second part is about embodiment of the contents like relevant market, conductivity principle and intellectual property in this case of Lenovo to Motorola Mobility. After a brief introduction, an analysis of the case of Lenovo will be made.Chapter three is about the national security system in China and America. Beside a detailed description, an analysis of the reflection of this system in this case will also be presented.Chapter four is a conclusion of the former contents, plus some suggestions on Chinese antitrust review and national security review system after a comparison of those two systems in both countries. Correspondingly,enterprises are also suggested to pay special attention to those tow systems in real business.