股份收购

第一章股份收购及表决权信托概述，主要介绍股份收购及表决权信托的基本内容，以及表决权信托运用于善意收购和恶意收购的简要分析。

Chapter One , Overview of Share Acquisition and Voting Trust . The chapter mainly introduces the basic contents of the acquisition of shares and voting trust .

本文则从股份收购这个新的角度探讨表决权信托，全文共分四章。

This article , which has four chapters , is about the voting trust in the field of stock acquisition .

论反对股东股份收购请求权的确立

On the Establishment of the Dissenting Shareholders ' Appraisal Right in the Company Law of China

事后救济包括完善股东派生诉讼制度和异议股东的股份收购请求权等。

Afterwards relief measures include perfecting the system of derivative suits and the claim of stock-acquisition of objection shareholder .

建立异议股东的股份收购制度和完善股东的退出机制。

Setting up the stock purchase system for the dissenting holders ; and perfecting the mechanism of stockholders ' secession .

中国从2003年诞生的第一起要约收购事件&南钢股份收购案开始，每一例要约收购的发生都会吸引各方人士的密切关注。

Nangang Acquisition Case , happening in 2003 , was the first case in which the Tender Offer method was utilized in China .

有必要对我国反对股东股份收购请求权的演进过程以及相关实体法问题进行研究。

It is necessary to study the developing process of the right of claim for acquisition of shares by dissenting shareholders and related substantive law .

知情人士表示，通用汽车、麦格纳和俄罗斯联邦储蓄银行将于今日签署具有约束力的股份收购协议。

Binding share purchase agreements are set to be signed today between GM , the Canadian company and the Russian bank , according to people briefed on the plans .

据报，沙特王子与利物浦老板之一乔治。吉列特已经开始商讨股份收购计划，而汤姆。希克斯手中持有的另一半俱乐部股份也可能在他的计划之中。

The Saudi prince has reportedly been in contact with Liverpool co-owner George Gillett over a potential buy-out of his share , and he also has eyes on Tom Hicks'half of the club .

在我国《公司法》中就首次规定了异议股东股份收购请求，这是股东退股制度中的一大进步。

It is the first time for Corporation Law of our country to provide dissent shareholders ' claim of share purchasing which could be deemed as great advancement in the system of shareholder withdrawal .

沃尔沃汽车现在是中国汽车制造商吉利（Geely）旗下公司，同时沃尔沃集团最近完成了对东风商用车业务45%股份的收购。东风是一家总部位于中国中部地区的国企。

Volvo Cars is now a division of Geely , the Chinese automaker , while Volvo Group recently completed its purchase of a 45 per cent stake in the commercial vehicle operations of Dongfeng , a state-owned group based in central China .

戴姆勒已以所持股份为此收购要约提供担保。该要约将于5月18日到期。

The carmaker has pledged its holding in the tender offer , which expires on May 18 .

2003年，泸州老窖股份公司收购武陵酒业有限公司60%的股权，2007年，泸州老窖增持武陵酒股权，持有其80%的股权。

Luzhou Laojiao Company bought a60 percent stake in the company in2003 and increased its stake to80 percent in2007 .

中石化和新奥能源在12月中旬发出以每股3.5元港币收购中国燃气50.1%股份的收购要约，对收购目标的估值超过20亿美元。

Sinopec and ENN Energy launched a HK $ 3.50-a-share offer for 50.1 per cent of China Gas in mid-December , valuing the target at over $ 2bn .

按照澳大利亚的收购法规，一位投资者如果不对剩余股份提出收购要约，则无法购入目标公司20%以上的股份。

Under Australian takeover rules , an investor is unable to buy a stake of more than 20 per cent in a target company without making an offer for the remainder of the shares .

然而从2003年南钢股份要约收购案至今，我国证券市场还没有发生一起真正意义上的要约收购，其关键在于目前要约收购价格的制定存在缺陷。

However , none of the true tender offers have happened in our stock market since the Nanjing Steel tender offer in 2003.The key problem is that the price of tender offer is unreasonable .

半导体行业的很多从业者都在密切关注，看Cfius是否会调查中国芯片生产商清华控股对生产硬盘设备的美国公司西部数据（WesternDigital）的股份发出的收购要约。

Many in the semiconductor industry are watching closely to see whether Cfius will investigate a bid by the Chinese chip maker Tsinghua Holdings for a stake in the American company Western Digital , which makes hard disk drives .

该市场的最大公司途家（Tujia）最近收购了中国旅游服务提供商携程（Ctrip）的度假短租业务，并通过股份互换方式收购了蚂蚁短租。

The largest company in the market , Tujia , recently bought Chinese travel services provider Ctrip 's vacation rental business , and acquired Mighty Talent , another holiday rental company , through a share swap .

然而，新闻集团的COO（首席运营官）切丝·凯里则忙于整理混乱的持股，获利出售一部分新闻集团占少数股权公司的股份，同时收购一些股份以实现占大股份公司的全部控股。

However , Chase Carey , the group 's chief operating officer , has been busy trying to sort out its tangle of holdings , selling some of its minority stakes at a profit and buying full control of other holdings .

然而，2009年12月，按照中国石油一体化的部署，其三大基地所包含子公司由中国石油天然气股份有限公司收购。

However , in December 2009 , the subsidiary companies of the three bases were purchased by PetroChina according to CNPC overall arrangements .

接着以胜利股份管理层收购为案例进行分析，介绍了胜利股份管理层收购的过程，重点研究其融资及收购后财务绩效问题。

Secondly , this paper presents a case study on the MBO of Shengli , which focuses on the financing and the performance after MBO .

若包括从公众投资者手中购买的股份，此次收购总值达到497亿美元，是瑞士企业历史上最大宗收购案。

Including an offer to buy out minority shareholders , the deal is worth $ 49.7 billion , the biggest takeover in Swiss corporate history .

价值守恒原则表明，无论你如何通过金融工程、股份回购或收购业务来分割金融资产，都无关紧要；

The conservation-of-value principle says that it doesn 't matter how you slice the financial pie with financial engineering , share repurchases , or acquisitions ;

本月，阿里巴巴继续其收购步伐，宣布对在线视频网站优酷和土豆网剩余的股份进行全面收购。

This month , Alibaba continued its acquisition streak by making an offer to buy the remainder of a Chinese online video site , Youku Tudou .

曾任职中国银行总行、现为国泰君安证券股份有限公司收购兼并部副总经理。

He had been worked in Bank of china , and now he is the vice general manager of M A Department of GUOTAI JUN'AN Securities company .

而在现行规定下，如果收购人购入一家公司30%的股权，则它必须发出收购该公司全部剩余股份的全面收购要约。

Under current rules , if an acquirer purchases a 30 per cent stake it must make a general offer for all outstanding shares in a company .

在国家安全等利害领域的交易中例如，一项主权基金意图持有国防设备制造企业的大量股份封杀此类收购行动的进程业已启动。

In deals where national security is a concern-say , if a sovereign fund attempted to take a big stake in a defence manufacturer-processes to block takeovers already exist .

通过向外部方派送股份，支持收购的投资者可以轻松地招募到数百甚至数千位新股东投票支持此项动议。

By distributing shares to outside parties , an investor in favour of the buy-out could easily recruit hundreds or even thousands of new shareholder voters to support the motion .

但随着中国燃气的数位股东在收购方可能提出新报价的预期下增持了股份，目前收购战变得愈发激烈。

But the takeover saga has heated up as several shareholders have increased their stakes in China Gas since the offer , in anticipation of a possible renewed bid from Sinopec and ENN .

持有百分之五以上股份的股东收购上市公司的股份，本法另有规定的，适用其规定。

If this law has separate provisions governing the acquisition of stocks of a listed company by a stockholder who holds 5 percent or more of the company 's stocks , the provisions shall apply .