企业的敌意并购与反并购策略分析——以“宝万之争”事件为例

The Hostile Takeover of Enterprise and Anti-mergers——From the “Bao And Wan Of The Dispute” as an Example

全球经济一体化推动着我国资本市场不断发展成熟,未来敌意并购可能变得频发,成为未形之患。所以,我国的企业必须事先有所了解,有所防范。本文介绍了敌意并购在我国的发展进程,对敌意并购与反并购的相关理论进行阐述和评价,选取"宝万之争"事件作为典型案例进行分析,重点探讨了宝能集团敌意并购的动机和方法,以及万科集团反并购的对策,进而得出防范敌意并购的启示,最后通过揭示反并购活动的意义,希望能引起企业的重视。

Global economic integration to promote the country to the west mature capital markets continue to Global economic integration to promote the country to the west mature capital markets continue to develop, so the future hostile takeover may become frequent and become the suffering is not formed. Therefore, our country enterprise must know in advance and safeguards. The hostile mergers and acquisitions in the process of the development of our country, to hostile mergers and acquisitions and mergers of theory elaboration and evaluation, selection 'Bao Wan contest' event as a typical case analysis, focuses on the Baoneng group hostile takeover of motivation and the method, as well as Vanke Group anti takeover measures, and then draw against hostile takeover of the enlightenment, finally reveals the significance of anti merger activity, hoping to attract the enterprise attention.