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信息披露制度是证券法公开原则的集中体现 ,要约收购作为上市公司一种有效的外部治理机制 ,由于其直接向目标公司股东发出收购要约 ,其信息披露规则与证券发行披露及证券交易持续披露的要求截然不同。为了使目标公司的股东能够了解充分的信息以便做出理智的投资判断 ,本文对此从法律应然的角度进行了比较研究 ,并结合我国的实际情况提出了相应的立法建议。
The information disclosure system is the concentrated expression of the open principle of securities law. As an effective external governance mechanism of the listed company, the tender offer, as it directly issues the tender offer to the shareholders of the target company, the disclosure rules and the disclosure of securities and the securities market The requirements are different. In order to make the shareholders of the target company know enough information to make rational investment judgment, this article makes a comparative study from the perspective of the law and puts forward the corresponding legislative suggestions according to the actual situation in our country.