Research On The Anti-takeover Decision-making Power Of Listed Companies In China

In 2016,the number and amount of M & A of listed companies in China are still running at high levels.Many companies will be able to quickly expand the market share,and will use the direct acquisition of listed companies as the main means,and the target company decision-making to start anti-takeover measures to prevent the company suffered mergers and acquisitions,hostile takeover and anti-takeover will take turns in the securities market Staged.China's current law on the target company to take anti-takeover measures legal norms are not clear,especially in the application of anti-acquisition decision-making power generated a lot of controversy,these disputes in our practice and academics have discussed,but did not form a standard.This paper discusses the definition of the concept of acquisition and anti-takeover of listed companies through the analysis of typical cases of anti-takeover,discusses the theoretical basis of anti-takeover,and then analyzes the current "Company Law","Securities Law" and " Management approach " and a series of laws on the anti-takeover provisions of listed companies,put forward to China 's listed companies anti-takeover system problems.This article advocates,strengthen the objectives of the company directors integrity obligations,protect the interests of shareholders,improve information disclosure obligations.