论我国上市公司收购之举牌预警及全面要约

发布时间：2018-04-28 17:55

本文选题：收购 + 并购　；参考：《西南民族大学学报(人文社科版)》2017年12期

【摘要】：我国法律对上市公司收购的规制,主要以持股比例为依据,没有区分收购与并购的界线。不管持股人的目的是为了上市公司的控制权还是为了公司分红、股票交易收益。只要持股达5%,每增持股份达法定比例,都必须履行举牌义务;持股达30%以上,都必须采用要约收购方式。我国要约收购以全面要约为主,协议收购、间接收购持股达30%的,只能发出全面要约。要约收购人以终止公司上市地位的收购、以及因收购导致公司股权分布不符合上市条件、股票终止交易的,都必须改部分要约为全面要约。
[Abstract]:The legal regulation of the takeover of listed companies is mainly based on the shareholding ratio, and there is no distinction between acquisition and merger. No matter whether the shareholder's purpose is for the control of the listed company or for the dividends of the company, the stock exchange returns. As long as holding 5%, each additional shares to achieve the legal ratio, must perform the obligation to raise the card, holding more than 30%, must adopt the way of takeover offer. In our country, the total offer is the main one, and the total offer can only be made if the share is 30%. If the acquirer terminates the listing status of the company, or because the acquisition results in the distribution of the company's equity which does not meet the listing conditions, the termination of the trading of the stock must be changed to a full offer.
【作者单位】：西南政法大学全球新闻与传播学院;清华大学法学院;日本东北大学法学院;
【分类号】：D922.287;D922.291.91

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