摘要
毒丸计划产生于美国,是针对敌意收购进行反收购的一种重要措施。随着我国公司资本制度的改革,资本市场更加繁荣,敌意收购的情况也屡见不鲜。2015年末的万科股权之争,虽然万科的董事长王石明言不会使用毒丸计划进行反收购,但这一重大事件仍然使得毒丸计划引起重视。毒丸计划在我国的实施并不尽人意,这主要是由于我国特殊的资本制度以及该制度本身的局限性。因此,应当结合我国反收购现状对该制度进行改进,从而最大限度地发挥其对于反收购的作用,完善我国反收购立法。
Poison Pills,which originated in the United States,is an important measure against hostile takeovers.With the reform of our capital system,the capital market is more prosperous,meanwhile hostile takeover becomes increasingly common. The WanKe equity dispute at the end of 2015 drew widespread attention to poison pill plan,though WanK e chairman Wang Shi declared explicitly that he would not turn to poison pill plan for anti-takeover. The implementation of Poison Pills Plan in China is far from satisfactory,mainly due to China's special capital system and the limitations of the system itself. Therefore,the system should be improved to maximize its function in anti-takeover and modify China's anti-takeover legislation.
出处
《华中师范大学研究生学报》
2016年第4期11-14,41,共5页
Central China Normal University Journal of Postgraduates
关键词
万科事件
毒丸计划
反收购
WanKe Incident
Poison Pill Plan
anti-takeover
