论文部分内容阅读
2006年股权分置改革完成之后,我国现有企业股权分散现象愈加明显,敌意并购事件层出不穷,W公司就是其中典型受害者。本文首先从协议并购和杠杆融资两方面对B并购W的并购性质进行分析,得出B敌意并购W这一事实,再次从W股权结构分析其分散程度,最后根据W所采取的反敌意并购策略进行分析,探索股权分散企业的反敌意并购策略的可行性。
After the share-trading reform was completed in 2006, the dispersion of the equity of the existing enterprises in China became more and more obvious. Hostile mergers and acquisitions followed one after another and W Company was one of the typical victims. This paper first analyzes the nature of mergers and acquisitions (M & A) of mergers and acquisitions (M & A) and leveraged financings (M & A), and draws the conclusion that B has a hostile takeover (W). It analyzes again the degree of diversification from the structure of W equity and finally the anti-hostile takeover strategy Analyze and explore the feasibility of anti-hostile mergers and acquisitions strategy of stock-diversified enterprises.