This book provides a comprehensive review of the Measures for Administration of Takeover of Chinese Listed Companies (the Chinese takeover law), with emphasis on the differences between the Chinese takeover law and takeover legislation in the UK, the US and Hong Kong. The Chinese M&A market has been booming at an unprecedented rate in recent years; not only domestic investors, but also foreign funds and multinational companies are actively participating on the market. For both market participants and researchers, it is crucial to understand the emerging and transitional aspects of the Chinese economy and its M&A market, and the impacts of those aspects on relevant laws. While there are ongoing academic discussions on the convergence between the Chinese takeover law and its counterparts in the UK, Hong Kong and the US, this book offers a comprehensive discussion of the divergence and focuses on key differences in the transplanted Chinese takeover law.
Зміст
Chapter 1 Introduction.- Chapter 2 Understanding the Context.- Chapter 3 Legal Transplantation Theory: A Theoretical Framework for Examining Chinese Takeover Law.- Chapter 4 Principles of Chinese Takeover Regulation: Economic Efficiency, Administrative Intervention and Shareholder Equality.- Chapter 5 Mandatory Bid Rule and Shareholder Equality: Legal Transplantation and Local Divergence.- Chapter 6 Miscellaneous Shareholder Protection Rules: the Influence of Legal Culture, Local Demand and Institutional Capacity in Transplantation.- Chapter 7 Regulating Takeover Defences: The UK Model in Books and the US Model in Action.- Chapter 8 Conclusion.