Research On The Motivation And Strategy Of Chinese Enterprises' Anti-malicious Offer Acquisition

With the continuous development of the world capital market,acquisitions and anti-acquisitions have undergone several major changes.Among many acquisitions,a malicious offer acquisition is a "barbaric" acquisition that runs counter to the intention of the target company.Compared with western countries,malicious offer acquisition appeared later in China's capital market.However,in recent years,the competition for controlling rights among Chinese enterprises has become increasingly apparent,and malicious offer acquisition methods have begun to appear more and more frequently in the public eye.Under such circumstances,Chinese enterprises urgently need to learn various suitable anti-malicious offer acquisition strategies in order to be able to actively counteract when malicious offer acquisitions occur.The purpose of this article is to study the motivations and strategies of Chinese companies' anti-malicious offer acquisition.This article first sorts out the definitions of the concepts related to malicious offer acquisition,and clarifies the relevant theories of anti-malicious offer acquisition motivation and strategy.Secondly,through the research on the current status of the anti-malicious offer acquisition system,this paper analyzes the current institutional orientation of malicious offer acquisition behaviors and anti-malicious offer acquisition behaviors in China,and hopes to analyze its impact on enterprises through our institutional guidance.On this basis,through the case of Aijian Group's resistance to the Guangzhou Fund,it specifically researched the motive and strategy of Aijian Group's anti-malicious offer acquisition,and made recommendations to China's enterprises and regulators on the anti-malicious offer acquisition.Through the study of theory and case,this paper finds that Aijian Group's scarce financial license,decentralized equity and good development momentum have attracted malicious offer acquisition for Aijian.In order to maintain management's control over the company,maintain the company's stock price stable,fulfill its social responsibility,and prevent increased operating risks and damage to the company's brand value and credit,Aijian Group has continued to suspend its trading and actively adopts major shareholder holding strategies,public opinion pressure strategies,and Legal litigation strategy.Through the research in this article,I hope to provide ideas and help for a party that has been acquired by a hostile bid in the future market in China.I hope that Chinese enterprises can avoid the dispersion of equity,avoid a monopoly,continuously optimize the equity structure,and maintain good shareholder relationships.In the case of a malicious offer acquisition,it is necessary to correctly identify the causes and actively use a variety of anti-malicious offer acquisition strategies to safeguard the legitimate interests of the enterprise itself.