Analysis Of Anti-merger Strategy Of Equity-distributed Companies

In recent years,with the rapid development of the economy,mergers and acquisitions among enterprises have become more and more active.Mergers and acquisitions have become an effective way for enterprises to expand.Since the first merger in 1993,China's m&a activity has been growing at a high rate each year.The completion of the shareholding reform in 2006 further promoted the development of m&a activities in our country,and the merger of enterprises has been on the new normal.But,not every mergers and acquisitions are well-intentioned,because some mergers and acquisitions can't bring obvious economic benefit.In the face of hostile takeovers,it is essential that companies take appropriate anti-takeover strategies to maintain company development.Because our country has been closed for a long time,the m&a behavior is little.Lots of western theory is not appropriate to for our country,which made the domestic research on anti-takeover less,and leads to limitations both in theory and in practice.Therefore,the anti-merger is a theoretical and real value research topic.How to set up the anti-m&a strategy system of China equity dispersion company.Therefore,this article selects Hubei Wu Shang A as an example,analyzes the the anti-takeover strategy adopted in the process of Hubei Wu Shang.Finally according to the specific condition of our country at present stage,proposed the anti-takeover strategy and suggestions which suits our country equity dispersible company system.The purpose of this article is based on current situation which domestic research of anti-takeover is less,and the anti-takeover strategy system are imperfection.We hope that through the analysis of the specific case,to explore the anti-m&a strategy system of China equity dispersion company.A conclusion of this article is enterprises should set up a reasonable equity structure,raise the consciousness of m&a and establish reasonable advance mechanism.In the face of damaging the interests of shareholders and stakeholders,one can use appropriate anti-takeover strategies to protect their interests,maintain the continuous operation and development of the enterprise.furthermore we should perfect the relevant laws and regulations as soon as possible.